Document:

Indenture

 Exhibit 4.1 

INDENTURE 

Dated as of September 15, 2010 

Between 

EXCO RESOURCES, INC., 

as Issuer 

and 

WILMINGTON TRUST COMPANY, 

as Trustee 

 CERTAIN SECTIONS OF THIS INDENTURE 

RELATING TO SECTIONS 310 THROUGH 318 INCLUSIVE, 

OF THE TRUST INDENTURE ACT OF 1939 
  

			
	Trust Indenture Act Section	  	Indenture Section
	 Section 310(a)(1)
	  	 Section 609

	 (a)(2)
	  	 Section 609

	 (a)(3)
	  	 Not Applicable

	 (a)(4)
	  	 Not Applicable

	 (b)
	  	 Section 608

		  	 Section 610

	 Section 311(a)
	  	 Section 613

	 (b)
	  	 Section 613

	 Section 312(a)
	  	 Section 701

		  	 Section 702

	 (b)
	  	 Section 702

	 (c)
	  	 Section 702

	 Section 313(a)
	  	 Section 703

	 (b)
	  	 Section 703

	 (c)
	  	 Section 703

	 (d)
	  	 Section 703

	 Section 314(a)
	  	 Section 704

	 (a)(4)
	  	 Section 1004

	 (b)
	  	 Not Applicable

	 (c)(1)
	  	 Section 102

	 (c)(2)
	  	 Section 102

	 (c)(3)
	  	 Not Applicable

	 (d)
	  	 Not Applicable

	 (e)
	  	 Section 102

	 Section 315(a)
	  	 Section 601

	 (b)
	  	 Section 602

	 (c)
	  	 Section 601

	 (d)
	  	 Section 601

	 (e)
	  	 Section 513

	 Section 316(a)
	  	 Section 101

	 (a)(1)(A)
	  	 Section 502

		  	 Section 511

	 (a)(1)(B)
	  	 Section 512

	 (a)(2)
	  	 Not Applicable

	 (b)
	  	 Section 508

	 (c)
	  	 Section 104

	 Section 317(a)(1)
	  	 Section 504

	 (a)(2)
	  	 Section 504

	 (b)
	  	 Section 1003

	 Section 318(a)
	  	 Section 107

 
 NOTE: This reconciliation and tie shall
not, for any purpose, be deemed to be a part of this Indenture. 
  

 - i - 

 TABLE OF CONTENTS 

 

					
	 	 	 	  	Page
	 PARTIES
	  	1
		
	 RECITALS OF THE COMPANY
	  	1
		
	 ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	1
			
		 	Definitions	  	1
		 	Compliance Certificates and Opinions	  	7
		 	Form of Documents Delivered to Trustee	  	8
		 	Acts of Holders; Record Dates	  	9
		 	Notices, Etc., to Trustee and Company	  	11
		 	Notice to Holders; Waiver	  	11
		 	Conflict with Trust Indenture Act	  	12
		 	Effect of Headings and Table of Contents	  	12
		 	Successors and Assigns	  	12
		 	Separability Clause	  	12
		 	Benefits of Indenture	  	12
		 	Governing Law	  	12
		 	Legal Holidays	  	12
		 	No Recourse Against Others	  	13
		 	WAIVER OF JURY TRIAL	  	13
		
	 ARTICLE II SECURITY FORMS
	  	13
			
		 	 Forms Generally
	  	13
		 	 Form of Legend for Global Securities
	  	14
		 	 Form of Trustee’s Certificate of Authentication
	  	14
		
	 ARTICLE III THE SECURITIES
	  	15
			
		 	 Amount Unlimited; Issuable in Series
	  	15
		 	 Denominations
	  	18
		 	 Execution, Authentication, Delivery and Dating
	  	18
		 	 Temporary Securities
	  	20
		 	 Registration, Registration of Transfer and Exchange
	  	20
		 	 Mutilated, Destroyed, Lost and Stolen Securities
	  	22
		 	 Payment of Interest; Interest Rights Preserved
	  	23
		 	 Persons Deemed Owners
	  	24

  

 - ii - 

					
	 	 	 	  	Page
		 	 Cancellation
	  	24
		 	 Computation of Interest
	  	25
		 	 CUSIP Numbers
	  	25
		 	 Original Issue Discount
	  	25
		
	 ARTICLE IV SATISFACTION AND DISCHARGE
	  	25
			
		 	 Satisfaction and Discharge of Indenture
	  	25
		 	 Application of Trust Money
	  	26
		
	 ARTICLE V REMEDIES
	  	27
			
		 	 Events of Default
	  	27
		 	 Acceleration of Maturity; Rescission and Annulment
	  	28
		 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	30
		 	 Trustee May File Proofs of Claim
	  	30
		 	 Trustee May Enforce Claims Without Possession of Securities
	  	30
		 	 Application of Money Collected
	  	31
		 	 Limitation on Suits
	  	31
		 	 Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert Securities
	  	32
		 	 Rights and Remedies Cumulative
	  	32
		 	 Delay or Omission Not Waiver
	  	32
		 	 Control by Holders
	  	32
		 	 Waiver of Past Defaults
	  	33
		 	 Undertaking for Costs
	  	33
		 	 Waiver of Usury, Stay or Extension Laws
	  	33
		 	 Restoration of Rights and Remedies
	  	34
		
	 ARTICLE VI THE TRUSTEE
	  	34
			
		 	 Certain Duties and Responsibilities of Trustee
	  	34
		 	 Notice of Defaults
	  	35
		 	 Certain Rights of Trustee
	  	35
		 	 Not Responsible for Recitals or Issuance of Securities
	  	37
		 	 May Hold Securities
	  	37
		 	 Money Held in Trust
	  	37
		 	 Compensation and Reimbursement
	  	37
		 	 Conflicting Interests
	  	38
		 	 Corporate Trustee Required; Eligibility
	  	39
		 	 Resignation and Removal; Appointment of Successor
	  	39

  

 - iii - 

					
	 	  	 	  	Page
		  	 Acceptance of Appointment by Successor
	  	40
		  	 Merger, Conversion, Consolidation or Succession to Business
	  	41
		  	 Preferential Collection of Claims Against Company
	  	42
		
	 ARTICLE VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	42
			
		  	 Company to Furnish Trustee Names and Addresses of Holders
	  	42
		  	 Preservation of Information; Communications to Holders
	  	42
		  	 Reports by Trustee
	  	42
		  	 Reports by Company
	  	43
		
	 ARTICLE VIII CONSOLIDATION, MERGER AND SALE OF ASSETS
	  	43
			
		  	 Company May Merge or Transfer Assets Only on Certain Terms
	  	43
		  	 Successor Corporation Substituted
	  	43
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	44
			
		  	 Supplemental Indentures Without Consent of Holders
	  	44
		  	 Supplemental Indentures With Consent of Holders
	  	45
		  	 Execution of Supplemental Indentures
	  	46
		  	 Effect of Supplemental Indentures
	  	47
		  	 Conformity with Trust Indenture Act
	  	47
		  	 Reference in Securities to Supplemental Indentures
	  	47
		
	 ARTICLE X COVENANTS
	  	47
			
		  	 Payment of Principal, Premium, if any, and Interest
	  	47
		  	 Maintenance of Office or Agency
	  	48
		  	 Money for Securities Payments to Be Held in Trust
	  	48
		  	 Statement by Officers as to Default
	  	49
		  	 Waiver of Certain Covenants
	  	49
		
	 ARTICLE XI REDEMPTION OF SECURITIES
	  	50
			
		  	 Applicability of Article
	  	50
		  	 Election to Redeem; Notice to Trustee
	  	50
		  	 Selection by Trustee of Securities to Be Redeemed
	  	50
		  	 Notice of Redemption
	  	51
		  	 Deposit of Redemption Price
	  	52
		  	 Securities Payable on Redemption Date
	  	52
		  	 Securities Redeemed in Part
	  	53

  

 - iv - 

					
	 	 	 	  	Page
		
	 ARTICLE XII SINKING FUNDS
	  	53
			
		 	 Applicability of Article
	  	53
		 	 Satisfaction of Sinking Fund Payments with Securities
	  	53
		 	 Redemption of Securities for Sinking Fund
	  	54
		
	 ARTICLE XIII DEFEASANCE AND COVENANT DEFEASANCE
	  	54
			
		 	 Company’s Option to Effect Defeasance or Covenant Defeasance
	  	54
		 	 Defeasance and Discharge
	  	54
		 	 Covenant Defeasance
	  	55
		 	 Conditions to Defeasance or Covenant Defeasance
	  	55
		 	 Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions
	  	57
		 	 Reinstatement
	  	58
		
	 REPAYMENT AT THE OPTION OF HOLDERS
	  	58
			
		 	 Applicability of Article
	  	58
		 	 Repayment of Securities
	  	58
		 	 Exercise of Option
	  	58
		 	 When Securities Presented for Repayment Become Due and Payable
	  	59
		 	 Securities Repaid in Part
	  	59

  

 - v - 

 INDENTURE, dated as of September 15, 2010, between EXCO RESOURCES, INC., a corporation
duly organized and existing under the laws of the State of Texas (herein called the “Company”), and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (herein called the “Trustee”). 

RECITALS OF THE COMPANY 

The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its senior
unsecured debt securities (herein called the “Securities”), to be issued in one or more series as in this Indenture provided. 

All things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal
and proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 
 ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS 

OF GENERAL APPLICATION 

Section 101. Definitions. 

For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

 

	 	(1)	the terms defined in this Article I have the meanings assigned to them in this Article I and include the plural as well as the singular; 

 

	 	(2)	all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein;

  

	 	(3)	all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP; 

 

	 	(4)	unless the context otherwise requires, any reference to an “Article” or a “Section” refers to an Article or a Section, as the case may be, of this
Indenture; 

  

	 	(5)	the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any
particular Article, Section or other subdivision; 

  

	 	(6)	“including” means including without limitation; 

	 	(7)	when used with respect to any Security, the words “convert,” “converted” and “conversion” are intended to refer to the right of the Holder
or the Company to convert or exchange such Security into or for securities or other property in accordance with such terms, if any, as may hereafter be specified for such Security as contemplated by Section 301, and these words are not intended
to refer to any right of the Holder or the Company to exchange such Security for other Securities of the same series and like tenor pursuant to Section 304, Section 305, Section 306, Section 906 or Section 1107 or another
similar provisions of this Indenture, unless the context otherwise requires; and references herein to the terms of any Security that may be converted mean such terms as may be specified for such Security as contemplated in Section 301; and

  

	 	(8)	unless otherwise provided, references to agreements and other instruments shall be deemed to include all amendments and other modifications to such agreements and
instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Indenture. 

“Act,” when used with respect to any Holder, has the meaning specified in Section 104. 

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

“Applicable Procedures” means, with respect to a Depositary, as to any matter at any time, the policies and procedures
of such Depositary, if any, that are applicable to such matter at such time. 
 “Board of Directors” means the
Board of Directors of the Company or any committee thereof duly authorized to act on behalf of such Board. 
 “Board
Resolution” means a copy of one or more resolutions certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification
and delivered to the Trustee. 
 “Business Day” means each day that is not a Legal Holiday. 

“Capital Stock” of any Person means any and all shares, interests (including partnership interests), rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated) equity of such Person, including any preferred stock, but excluding any debt securities convertible into such equity. 

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

 - 2 - 

 “Company Request” or “Company Order” means a written
request or order signed in the name of the Company by an Officer of the Company (or any Person designated in writing as authorized to execute and deliver Company Requests and Company Orders), and delivered to the Trustee. 

“Corporate Trust Office” means the principal office of the Trustee at which, at any particular time, its corporate trust
business shall be conducted (which office is located as of the date of this Indenture at Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890, Attention: Corporate Capital Market Services, or at any other time at such other
address as the Trustee may designate from time to time by notice to the Holders). 
 “Covenant Defeasance” has
the meaning specified in Section 1303. 
 “Default” means any event which is, or after notice or passage
of time or both would be, an Event of Default. 
 “Defaulted Interest” has the meaning specified in
Section 307. 
 “Defeasance” has the meaning specified in Section 1302. 

“Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more
Global Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 301. 

“Event of Default” has the meaning specified in Section 501. 

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended. 

“GAAP” means generally accepted accounting principles in the United States as in effect from time to time. 

“Global Security” means a Security that evidences all or part of the Securities of any series and bears the legend set
forth in Section 202 (or such legend as may be specified as contemplated by Section 301 for such Securities). 

“Holder” or “Securityholder” means the Person in whose name a Security is registered on the
Registrar’s books. 
 “Indenture” means this instrument as originally executed and as it may from time to
time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust
Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by
Section 301. 
 “interest” means, when used with respect to an Original Issue Discount Security which by
its terms bears interest only after Maturity, interest payable after Maturity. 
  

 - 3 - 

 “Interest Payment Date” means, when used with respect to any Security, the
Stated Maturity of an installment of interest on such Security. 
 “Internal Revenue Code” means the U.S.
Internal Revenue Code of 1986, as amended from time to time. 
 “Legal Holiday” means a Saturday, a Sunday or a
day on which banking institutions are not required to be open in the State of New York. 
 “Maturity” means,
when used with respect to any Security, the date on which the principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for
redemption or otherwise. 
 “Notice of Default” means a written notice of the kind specified in
Section 501. 
 “Officer” means the Chairman of the Board, any Vice Chairman, the Chief Executive
Officer, the Chief Operating Officer, the President, any Vice President, the Treasurer, any Assistant Treasurer, the Chief Financial Officer, the Chief Accounting Officer, the General Counsel, the Secretary or any Assistant Secretary of the Company.
 
 “Officer’s Certificate” means a certificate signed by an Officer of the Company. 

“Opinion of Counsel” means a written opinion of counsel (who may be counsel for the Company) and who shall be reasonably
acceptable to the Trustee. The counsel may be an employee of the Company. Opinions of Counsel required to be delivered under this Indenture may have qualifications customary for opinions of the type required and counsel delivering such Opinions of
Counsel may rely as to factual matters on certificates of the Company or governmental or other officials customary for opinions of the type required. 

“Original Issue Discount Security” means any Security which provides for an amount less than the principal amount
thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 

“Outstanding” means, when used with respect to Securities, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
  

	 	(1)	Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 

 

	 	(2)	Securities for whose payment or redemption money in the necessary amount has been theretofore deposited 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 Securities; provided that, if such Securities 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; 

  

 - 4 - 

	 	(3)	Securities as to which Defeasance has been effected pursuant to Section 1302; 

 

	 	(4)	Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to
this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid
obligations of the Company; and 

  

	 	(5)	Securities as to which any property deliverable upon conversion thereof has been delivered (or such delivery has been made available), or as to which any other
particular conditions have been satisfied, in each case as may be provided for such Securities as contemplated in Section 301; 

provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made
or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be the
amount of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 502, (B) if, as of such date, the principal amount payable at the Stated Maturity of
a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by Section 301, (C) the principal amount of a Security denominated
in one or more foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the manner provided as contemplated by Section 301, of the
principal amount of such Security (or, in the case of a Security described in clause (A) or (B) above, of the amount determined as provided in such clause), and (D) Securities owned by the Company or any other obligor upon the
Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization,
direction, notice, consent, waiver or other action, only Securities which a Responsible Officer of the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if
the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such
other obligor. 
 “Paying Agent” means any Person authorized by the Company to pay the principal of or premium,
if any, or interest on any Securities on behalf of the Company. 
 “Person” means any individual, corporation,
partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

 

 - 5 - 

 “Place of Payment” means, when used with respect to the Securities of any
series, the place or places where the principal of and premium, if any, and interest on the Securities of such series are payable as specified as contemplated by Section 301. 

“Predecessor Security” means, with respect to any particular Security, every previous Security evidencing all or a
portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen
Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Redemption
Date” means, when used with respect to any Security to be redeemed, the date fixed for such redemption by or pursuant to this Indenture. 

“Redemption Price” means, when used with respect to any Security to be redeemed, the price at which it is to be redeemed
pursuant to this Indenture. 
 “Regular Record Date” means, for the interest payable on any Interest Payment
Date on the Securities of any series, the date specified for that purpose as contemplated by Section 301. 

“Repayment Date” means, with used with respect to a Security to be repaid at the option of a Holder, the date fixed for
such repayment by or pursuant to this Indenture. 
 “Responsible Officer” means, when used with respect to the
Trustee, any vice president, any assistant vice president, any assistant secretary, any assistant treasurer, any trust officer, or any other officer associated with the corporate capital markets services or the corporate trust department of the
Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such
person’s knowledge of and familiarity with the particular subject. 
 “SEC” means the U.S. Securities and
Exchange Commission. 
 “Securities” has the meaning specified in the first recital of this Indenture and more
particularly means any Securities authenticated and delivered under this Indenture. 
 “Securities Act” means
the U.S. Securities Act of 1933, as amended. 
 “Security Register” and “Security Registrar”
have the respective meanings specified in Section 305. 
 “Special Record Date” means, for the payment of
any Defaulted Interest, a date fixed by the Trustee pursuant to Section 307. 
  

 - 6 - 

 “Stated Maturity” means, when used with respect to any Security or any
installment of principal thereof or interest thereon, the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” means, with respect to any Person, any corporation, association, partnership or other business entity of
which more than 50% of the total voting power of shares of Voting Stock is at the time owned or controlled, directly or indirectly, by: 
  

	 	(1)	such Person; 

  

	 	(2)	such Person and one or more Subsidiaries of such Person; or 

  

	 	(3)	one or more Subsidiaries of such Person. 

“Successor” has the meaning specified in Section 801. 

“Trust Indenture Act” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the
Issue Date. 
 “Trustee” means Wilmington Trust Company, a Delaware banking corporation, until a successor
replaces it and, thereafter, means the successor. 
 “U.S. Government Obligation” means direct obligations (or
certificates representing an ownership interest in such obligations) of the United States of America (including any agency or instrumentality thereof) for the payment of which the full faith and credit of the United States of America is pledged and
which are not callable at the issuer’s option. 
 “U.S. Government Obligation” has the meaning specified
in Section 1304(1). 
 “Vice President” means, when used with respect to the Company or the Trustee, any
vice president, whether or not designated by a number or a word or words added before or after the title “vice president.” 

“Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled
(without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof. 
 Section 102.
Compliance Certificates and Opinions. 
 Upon any application or request by the Company to the Trustee to take any action
under any provision of this Indenture, the Company shall furnish to the Trustee, if requested by the Trustee, an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action
have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of
such documents is specifically required by any provision of this Indenture relating 
  

 - 7 - 

 
to such particular application or request, no additional certificate or opinion need be furnished by the Company. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (except for
certificates provided for in Section 1004) shall include: 
  

	 	(1)	a statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto;

  

	 	(2)	a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are
based; 

  

	 	(3)	a statement that, in the opinion of each such individual, he or she has made such examination or investigation as is necessary to enable him or her to express an
informed opinion as to whether or not such covenant or condition has been complied with; and 

  

	 	(4)	a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 

Section 103. Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary
that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more
other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an Officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or
opinion of, or representations by, counsel, unless such Officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which such Officer’s certificate or
opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an Officer or Officers of the Company stating that the
information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are
erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates,
statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
  

 - 8 - 

 Section 104. Acts of Holders; Record Dates. 

Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be
given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided,
such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby)
are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this
Indenture and, subject to Section 601, conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section 104. 

The fact and date of the execution by any Person of any such instrument or writing may be proved in any manner which the Trustee
reasonably deems sufficient. Where such execution is by a Person acting in a capacity other than such Person’s individual capacity, such certificate or affidavit shall also constitute sufficient proof of such Person’s authority. The fact
and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

The ownership of Securities shall be proved by the Security Register. 

Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future
Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in
reliance thereon, whether or not notation of such action is made upon such Security. 
 The Company may set any day as a record
date for the purpose of determining the Holders of Outstanding Securities of any series entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to
be given, made or taken by Holders of Securities of such series; provided that the Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration,
request or direction referred to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the
relevant action, whether or not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal
amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant to this
paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the
requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own

  

 - 9 - 

 
expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of the
relevant series in the manner set forth in Section 106. 
 The Trustee may set any day as a record date for the purpose of
determining the Holders of Outstanding Securities of any series entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to
institute proceedings referred to in Section 507(2) or (iv) any direction referred to in Section 511, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of
Outstanding Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided that no
such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be
construed to prevent the Trustee from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person
be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken.
Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company in
writing and to each Holder of Securities of the relevant series in the manner set forth in Section 106. 
 With respect to
any record date set pursuant to this Section 104, the party hereto which sets such record dates may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day;
provided that no such change shall be effective unless notice of the proposed new Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in
Section 106, on or prior to the existing Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section 104, the party hereto which set such record date shall be deemed to have
initially designated the 180th day after such record date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. 

Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so
with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any part of such principal amount. 

In addition to the foregoing, the Trustee agrees to accept and act upon notice, instructions or directions pursuant to this Indenture
sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions, subsequent to such transmission of written instructions,
shall provide the originally executed instructions or directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of

  

 - 10 - 

 
the party providing such instructions or directions. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reasonable reliance
upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. 

Section 105. Notices, Etc., to Trustee and Company. 

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with, 
  

	 	(1)	the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing (which may be by facsimile) to
or with the Trustee at its Corporate Trust Office at the location specified in Section 101 (provided, that notices to the Trustee shall be effective only upon receipt by the Trustee); or 

 

	 	(2)	the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to the Company addressed to the attention of the Secretary of the Company at the address of the Company’s principal office specified in writing to the Trustee by the Company and, until further notice, at 12377 Merit
Drive, Suite 1700, LB 82, Dallas, Texas 75251, fax number: 214-706-3409, Attention: Vice President, General Counsel and Secretary. 

Section 106. Notice to Holders; Waiver. 

Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at such Holder’s address as it appears in the Security Register, not later than the latest date, if any, and not earlier than the
earliest date, if any, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the
sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver
shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 

In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice
by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

Where this Indenture provides for notice of any event to a Holder of a Global Security, such notice shall be sufficiently given if given
to the Depositary for such Security (or its 
  

 - 11 - 

 
designee), pursuant to the Applicable Procedures of the Depositary, not later than the latest date, if any, and not earlier than the earliest date, if any, prescribed for the giving of such
notice. 
 Section 107. Conflict with Trust Indenture Act. 

If any provision of this Indenture limits, qualifies or conflicts with a provision of the Trust Indenture Act which is required under
such Act to be a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall
be deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 
 Section 108. Effect of Headings and Table of
Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect
the construction hereof. 
 Section 109. Successors and Assigns. 

All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. All
agreements of the Trustee in this Indenture shall bind its successors and assigns, whether so expressed or not. 
 Section 110. Separability
Clause. 
 In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 111.
Benefits of Indenture. 
 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person,
other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 112. Governing Law. 

This Indenture and the Securities shall be governed by, and construed in accordance with, the law of the State of New York. 

Section 113. Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity of any Security, or any date on which a
Holder has the right to convert such Holder’s Security, shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which
specifically states that such provision shall apply in lieu of this Section 113)) payment of principal and premium, if any, or interest, or the Redemption Price or conversion of such Security, need not be made at such Place of Payment on such
date, but may be made on the next 
  

 - 12 - 

 
succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date, Redemption Date or Repayment Date, or at the Stated Maturity, or on such
conversion date. In the case, however, of Securities of a series bearing interest at a floating rate based on the London interbank offered rate (LIBOR), if any Interest Payment Date (other than the Redemption Date, Repayment Date or Stated Maturity)
would otherwise be a date that is not a Business Day, then the Interest Payment Date shall be postponed to the following date which is a Business Day, unless that Business Day falls in the next succeeding calendar month, in which case the Interest
Payment Date will be the immediately preceding Business Day. No interest shall accrue for the period from and after any such Interest Payment Date, Redemption Date, Repayment Date, Stated Maturity or conversion date, as the case may be, to the date
of such payment. 
 Section 114. No Recourse Against Others. 

A director, officer, employee or stockholder as such of the Company shall not have any liability for any obligations of the Company under
the Securities or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Holder shall waive and release all such liability. The waiver and release shall be part of
the consideration for the issue of the Securities. 
 Section 115. WAIVER OF JURY TRIAL. 

EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO
TRIAL BY JURY IN ANY LEGAL PROCEEDING AS BETWEEN THE COMPANY AND THE TRUSTEE ONLY ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE SECURITIES. 

ARTICLE II 

SECURITY FORMS 
 Section
201. Forms Generally. 
 The Securities of each series shall be in substantially such form or forms as shall be
established by or pursuant to a Board Resolution or, subject to Section 303, set forth in, or determined in the manner provided in, an Officer’s Certificate pursuant to a Board Resolution, or in one or more indentures supplemental hereto,
in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed
thereon as may be required to comply with applicable tax laws or the rules of any securities exchange or Depositary therefor or as may, consistently herewith, be determined by the Officer executing such Securities, as evidenced by his or her
execution thereof. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and
delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such Securities. If all of the Securities of any series established by action taken pursuant to a Board

  

 - 13 - 

 
Resolution are not to be issued at one time, it shall not be necessary to deliver a record of such action at the time of issuance of each Security of such series, but an appropriate record of
such action shall be delivered at or before the time of issuance of the first Security of such series. 
 The definitive
Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the Officer executing such Securities, as evidenced by his or her execution of such Securities. 

Section 202. Form of Legend for Global Securities. 

Unless otherwise specified as contemplated by Section 301 for the Securities evidenced thereby or as required by Applicable
Procedures, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form: 

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

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.] 

[Insert, if applicable — THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER
THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.] 
 Section 203. Form of
Trustee’s Certificate of Authentication. 
 The Trustee’s certificates of authentication shall be in substantially
the following form: 
 This is one of the Securities of the series designated therein referred to in the within-mentioned
Indenture. 
  

 - 14 - 

 Dated: 
  

			
	 WILMINGTON TRUST COMPANY,

    as Trustee

		
	By:	 	 
	Authorized Signatory

ARTICLE III 

THE SECURITIES 
 Section
301. Amount Unlimited; Issuable in Series. 
 The aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established
in or pursuant to (a) a Board Resolution or pursuant to authority granted by a Board Resolution and, subject to Section 303, set forth, or determined in the manner provided, in an Officer’s Certificate, or (b) one or more
indentures supplemental hereto, prior to the issuance of Securities of any series: 
  

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

 

	 	(2)	the limit, if any, on the aggregate principal amount of the Securities of the series which may be authenticated and delivered under this Indenture (except for
Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 304, 305, 306, 906 or 1107 and except for any Securities which, pursuant to
Section 303, are deemed never to have been authenticated and delivered hereunder); 

  

	 	(3)	the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest; 

  

	 	(4)	the date or dates on which the principal of any Securities of the series is payable or the method used to determine or extend those dates; 

 

	 	(5)	the rate or rates at which any Securities of the series shall bear interest, if any, the date or dates from which any such interest shall accrue, the Interest Payment
Dates on which any such interest shall be payable and the Regular Record Date for any such interest payable on any Interest Payment Date; 

  

 - 15 - 

	 	(6)	the place or places where the principal of and premium, if any, and interest on any Securities of the series shall be payable and the manner in which any payment may be
made; 

  

	 	(7)	the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series may be redeemed, in whole or in
part, at the option of the Company and, if other than by a Board Resolution, the manner in which any election by the Company to redeem the Securities shall be evidenced; 

 

	 	(8)	the obligation or the right, if any, of the Company to redeem or purchase any Securities of the series pursuant to any sinking fund or at the option of the Holder
thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;

  

	 	(9)	if other than denominations of $2,000 and any integral multiple of $1,000 in excess thereof, the denominations in which any Securities of the series shall be issuable;

  

	 	(10)	if the amount of principal of or premium, if any, or interest on any Securities of the series may be determined with reference to a financial or economic measure or
index or pursuant to a formula, the manner in which such amounts shall be determined; 

  

	 	(11)	if other than the currency of the United States of America, the currency, currencies or currency units in which the principal of or premium, if any, or interest on any
Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of America for any purpose, including for purposes of the definition of “Outstanding” in
Section 101; 

  

	 	(12)	if the principal of or premium, if any, or interest on any Securities of the series is to be payable, at the election of the Company or the Holder thereof, in one or
more currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies or currency units in which the principal of or premium, if any, or interest on such Securities as to which such
election is made shall be payable, the periods within which and the terms and conditions upon which such election is to be made and the amount so payable (or the manner in which such amount shall be determined); 

 

	 	(13)	if other than the entire principal amount thereof, the portion of the principal amount of any Securities of the series which shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 502; 

  

	 	(14)	 if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more dates prior to
the Stated Maturity, the amount which shall be deemed to be the principal amount of such 

  

 - 16 - 

	 	 
Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable upon any Maturity other than the Stated Maturity or
which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined); 

 

	 	(15)	if other than by a Board Resolution, the manner in which any election by the Company to defease any Securities of the series pursuant to Section 1302 or
Section 1303 shall be evidenced; whether any Securities of the series other than Securities denominated in U.S. dollars and bearing interest at a fixed rate are to be subject to Section 1302 or Section 1303; or, in the case of
Securities denominated in U.S. dollars and bearing interest at a fixed rate, if applicable, that the Securities of the series, in whole or any specified part, shall not be defeasible pursuant to Section 1302 or Section 1303 or both such
Sections; 

  

	 	(16)	if applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective
Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 202 and any circumstances in addition to or in lieu of those set
forth in clause (2) of the last paragraph of Section 305 in which any such Global Security may be exchanged in whole or in part for Securities registered, and any transfer of such Global Security in whole or in part may be registered, in
the name or names of Persons other than the Depositary for such Global Security or a nominee thereof; 

  

	 	(17)	any addition to, deletion from or change in the Events of Default which applies to any Securities of the series and any change in the right of the Trustee or the
requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 502; 

  

	 	(18)	any addition to, deletion from or change in the covenants set forth in Article X which applies to Securities of the series; 

 

	 	(19)	if the Securities of the series are to be convertible into or exchangeable for cash and/or any securities or other property of any Person (including the Company), the
terms and conditions upon which such Securities will be so convertible or exchangeable; 

  

	 	(20)	whether the Securities of the series will be guaranteed by any Person or Persons and, if so, the identity of such Person or Persons, the terms and conditions upon which
such Securities shall be guaranteed and, if applicable, the terms and conditions upon which such guarantees may be subordinated to other indebtedness of the respective guarantors; 

 

	 	(21)	 whether the Securities of the series will be secured by any collateral and, if so, the terms and conditions upon which such Securities shall be secured
and, if 

  

 - 17 - 

	 	 
applicable, upon which such liens may be subordinated to other liens securing other indebtedness of the Company or any guarantor; and 

 

	 	(22)	any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture, except as permitted by Section 901(11)).

 All Securities of any one series shall be substantially identical except as to denomination and except as may
otherwise be provided in or pursuant to the Board Resolution referred to above or pursuant to authority granted by one or more Board Resolutions and, subject to Section 303, set forth, or determined in the manner provided, in the Officer’s
Certificate referred to above or in any such indenture supplemental hereto. All Securities of any one series need not be issued at one time and, unless otherwise provided in or pursuant to the Board Resolution referred to above and, subject to
Section 303, set forth, or determined in the manner provided, in the Officer’s Certificate referred to above or pursuant to authority granted by one or more Board Resolutions or in any such indenture supplemental hereto with respect to a
series of Securities, additional Securities of a series may be issued, at the option of the Company, without the consent of any Holder, at any time and from time to time. 

If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such
action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate setting forth the terms of the series. 

Section 302. Denominations. 

The Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be
specified as contemplated by Section 301. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $2,000 and any integral multiple of
$1,000 in excess thereof. 
 Section 303. Execution, Authentication, Delivery and Dating. 

The Securities shall be executed on behalf of the Company by its Chairman of the Board, one of its Vice Chairmen, its Chief Executive
Officer, its Chief Financial Officer, its Chief Accounting Officer, its Treasurer, one of its Corporate Vice Presidents or one of its Assistant Treasurers. The signature of any of these officers on the Securities may be manual or facsimile.

 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company
shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If the form or
terms of the Securities of the series have been established by or 
  

 - 18 - 

 
pursuant to one or more Board Resolutions or pursuant to authority granted by one or more Board Resolutions as permitted by Sections Section 201 and Section 301, in authenticating such
Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and, subject to Section 601, shall be fully protected in relying upon, an Opinion of
Counsel stating, 
  

	 	(1)	if the form of such Securities has been established by or pursuant to Board Resolution or pursuant to authority granted by one or more Board Resolutions as permitted by
Section 201, that such form has been established in conformity with the provisions of this Indenture; 

  

	 	(2)	if the terms of such Securities have been established by or pursuant to Board Resolution or pursuant to authority granted by one or more Board Resolutions as permitted
by Section 301, that such terms have been established in conformity with the provisions of this Indenture; and 

  

	 	(3)	that such Securities, when authenticated by the Trustee and issued and delivered by the Company in the manner and subject to any conditions specified in such Opinion of
Counsel, will constitute valid and legally binding obligations of the Company enforceable in accordance with their terms, subject to (i) the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar
laws relating to or affecting creditors’ rights generally, (ii) general equitable principles and (iii) an implied covenant of good faith and fair dealing. 

If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such
Securities pursuant to this Indenture will materially adversely affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee.

 Notwithstanding the provisions of Section 301 and of the preceding paragraph of this Section 303, if all Securities
of a series are not to be originally issued at one time, including in the event that the aggregate principal amount of a series of Outstanding Securities is increased as contemplated by Section 301, it shall not be necessary to deliver the
Officer’s Certificate otherwise required pursuant to Section 301 or the Company Order and Opinion of Counsel otherwise required pursuant to this Section 303 at or prior to the authentication of each Security of such series if such
documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 

Each Security shall be dated the date of its authentication. 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has
been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the
Trustee for cancellation as 
  

 - 19 - 

 
provided in Section 309, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits
of this Indenture. 
 Section 304. Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and, upon Company Order, the Trustee shall
authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities of such series in lieu of which
they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as evidenced by their execution of such Securities. 

If temporary Securities of any series are issued, the Company will cause definitive Securities of such series to be prepared without
unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for such series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged, the temporary Securities of any series shall in
all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 
 Section 305.
Registration, Registration of Transfer and Exchange. 
 The Company shall cause to be kept at the Corporate Trust Office
of the Trustee a register (the register maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject
to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering
Securities and transfers of Securities as herein provided. 
 Upon surrender for registration of transfer of any Security of a
series at the office or agency of the Company in a Place of Payment for such series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of
the same series, of any authorized denominations and of like tenor and principal amount. 
 At the option of the Holder,
Securities of any series may be exchanged for other Securities of the same series, of any authorized denominations and of like tenor and principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any
Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall 
  

 - 20 - 

 
authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 

All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company,
evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 

Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee)
be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or such Holder’s attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, Section 906 or Section 1107 not
involving any transfer. 
 If the Securities of any series (or of any series and specified tenor) are to be redeemed in part,
the Company shall not be required (A) to issue, register the transfer of or exchange any Securities of such series (or of such series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days before
the day of the mailing of a notice of redemption of any such Securities selected for redemption under Section 1103 and ending at the close of business on the day of such mailing, or (B) to register the transfer of or exchange any Security
so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 The
provisions of clauses (1), (2), (3) and (4) of this paragraph shall apply only to Global Securities: 
  

	 	(1)	Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof and
delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture. 

 

	 	(2)	 Notwithstanding any other provision in this Indenture, and subject to such applicable provisions, if any, as may be specified as contemplated by
Section 301, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the Depositary for such Global
Security or a nominee thereof unless (A) such Depositary has notified the Company that it is unwilling or unable or no longer permitted under applicable law to continue as Depositary for such Global Security, (B) there shall have occurred
and be continuing an Event of Default with respect to such Global Security, (C) the Company so directs the Trustee by a Company Order or (D) there shall exist such 

 

 - 21 - 

	 	 
circumstances, if any, in addition to or in lieu of the foregoing as have been specified for this purpose as contemplated by Section 301. 

 

	 	(3)	Subject to clause (2) above, and subject to such applicable provisions, if any, as may be specified as contemplated by Section 301, any exchange of a Global
Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion thereof shall be registered in such names as the Depositary for such Global Security shall direct.

  

	 	(4)	Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security or any portion thereof, whether
pursuant to this Section 305, Section 304, Section 306, Section 906 or Section 1107 or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such Security is registered in
the name of a Person other than the Depositary for such Global Security or a nominee thereof. 

 Section 306. Mutilated,
Destroyed, Lost and Stolen Securities. 
 If any mutilated Security is surrendered to the Trustee, the Company shall execute
and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

If there shall be delivered to the Company and the Trustee (1) evidence to their satisfaction of the destruction, loss or theft of
any Security and (2) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a
bona fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount and bearing a
number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is
about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 

Upon the issuance of any new Security under this Section 306, the Company may require the payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of counsel to the Company and the fees and expenses of the Trustee and its counsel) connected therewith. 

Every new Security of any series issued pursuant to this Section 306 in lieu of any mutilated, destroyed, lost or stolen Security
shall constitute an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Securities of such series duly issued hereunder. 
  

 - 22 - 

 The provisions of this Section 306 are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section
307. Payment of Interest; Interest Rights Preserved. 
 Except as otherwise provided as contemplated by Section 301
with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest. 
 Any interest on any Security
of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date
by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: 

 

	 	(1)	The Company may elect to make payment of any Defaulted Interest payable on Securities of a series to the Persons in whose names the Securities of such series (or their
respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be
paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to
such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed
payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause
notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record
Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective
Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). 

 

	 	(2)	 The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the
requirements of 

  

 - 23 - 

	 	 
any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed
payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

 Subject
to the foregoing provisions of this Section 307, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to
accrue, which were carried by such other Security. 
 In the case of any Security which is converted after any Regular Record
Date and on or prior to the next succeeding Interest Payment Date (other than any Security whose Maturity is prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest
Payment Date notwithstanding such conversion, and such interest (whether or not punctually paid or made available for payment) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close
of business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security
shall not be payable. Notwithstanding the foregoing, the terms of any Security that may be converted may provide that the provisions of this paragraph do not apply, or apply with such additions, changes or omissions as may be provided thereby, to
such Security. 
 Section 308. Persons Deemed Owners. 

Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and premium, if any, and, subject to Section 307, any interest on such Security and for all other
purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

Section 309. Cancellation. 

All Securities surrendered for payment, redemption, registration of transfer or exchange or conversion or for credit against any sinking
fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated
and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the
Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section 309, except as
expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of in accordance with its customary procedures. 

 

 - 24 - 

 
The Trustee shall provide the Company a list of all Securities that have been cancelled from time to time as requested by the Company. 

Section 310. Computation of Interest. 

Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series
shall be computed on the basis of a 360-day year of twelve 30-day months. 
 Section 311. CUSIP Numbers. 

The Company in issuing any series of the Securities may use “CUSIP” or “ISIN” numbers and/or other similar numbers,
if then generally in use, and thereafter with respect to such series, the Trustee may use such numbers in any notice of redemption with respect to such series; provided that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Securities of such series or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities of such series, and any
such redemption shall not be affected by any defect in or omission of such numbers. 
 Section 312. Original Issue Discount. 

If any of the Securities is an Original Issue Discount Security, the Company shall file with the Trustee promptly at the end of each
calendar year (1) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on such Outstanding Original Issue Discount Securities as of the end of such year and (2) such other
specific information relating to such original issue discount as may then be relevant under the Internal Revenue Code. 

ARTICLE IV 

SATISFACTION AND DISCHARGE 

Section 401. Satisfaction and Discharge of Indenture. 

This Indenture shall, upon Company Request, cease to be of further effect with respect to any series of Securities specified in such
Company Request (except as to any surviving rights of registration of transfer or exchange of Securities of such series herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture as to such series, when: 
  

	 	(1)	either 

  

	 	(A)	 all Securities of such series theretofore authenticated and delivered (other than (i) Securities which have been mutilated, destroyed, lost or
stolen and which have been replaced or paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid

  

 - 25 - 

	 	 
to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 

 

	 	(B)	all such Securities of such series not theretofore delivered to the Trustee for cancellation 

 

	 	(i)	have become due and payable, or 

  

	 	(ii)	will become due and payable at their Stated Maturity within one year of the date of deposit, or 

 

	 	(iii)	are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at
the expense, of the Company, 

 and the Company, in the case of (i), (ii) or (iii) above, has deposited
or caused to be deposited with the Trustee as trust funds in trust for the purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal
and premium, if any, and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 

 

	 	(2)	the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 

 

	 	(3)	the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for
relating to the satisfaction and discharge of this Indenture as to such series have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 607
and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section 401, the obligations of the Trustee under Section 402 and the last paragraph of Section 1003 shall survive.

 Section 402. Application of Trust Money. 

Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401
shall be held in trust and applied by it, in accordance with the provisions of the applicable series of Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent)
as the Trustee may determine, to the Persons entitled thereto, of the principal and premium, if any, and interest for whose payment such money has been deposited with the Trustee. All money deposited with the Trustee pursuant to Section 401
(and held by it or any Paying Agent) for the payment of Securities subsequently converted into other property shall be returned to the Company upon Company Request. The Company may direct by a Company Order the

  

 - 26 - 

 
investment of any money deposited with the Trustee pursuant to Section 401, without distinction between principal and income, in (1) United States Treasury securities with a maturity of
one year or less or (2) a money market fund that invests solely in short-term United States Treasury securities (including money market funds for which the Trustee or an affiliate of the Trustee serves as investment advisor, administrator,
shareholder, servicing agent and/or custodian or sub-custodian, notwithstanding that (a) the Trustee charges and collects fees and expenses from such funds for services rendered and (b) the Trustee charges and collects fees and expenses
for services rendered pursuant to this Indenture at any time) and from time to time the Company may direct the reinvestment of all or a portion of such money in other securities or funds meeting the criteria specified in clause (1) or
(2) of this Section 402. 
 ARTICLE V 

REMEDIES 
 Section 501.
Events of Default. 
 Except as may be otherwise provided pursuant to Section 301 for Securities of any series, an
“Event of Default” means, whenever used herein or in a Security issued hereunder with respect to Securities of any series, any one of the following events (whatever the reason for such Event of Default and whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(1) the Company defaults in the payment of any installment of interest on any Security of such series for 30 days after
becoming due; 
 (2) the Company defaults in the payment of the principal of or premium, if any, on any
Security of such series when the same becomes due and payable at its Stated Maturity, upon optional redemption, upon declaration or otherwise; 

(3) the Company defaults in the deposit of any sinking fund payment, when and as due by the terms of a Security of such
series; 
 (4) the Company defaults in the performance of, or breaches, any of its covenants and agreements in
respect of any Security of such series contained in this Indenture or in the Securities of such series (other than those referred to in (1), (2) or (3) above), and such default or breach continues for a period of 90 days after the notice
specified below; 
 (5) the Company, pursuant to or within the meaning of the Bankruptcy Law (as defined
below): 
 (A) commences a voluntary case or proceeding; 

(B) consents to the entry of an order for relief against it in an involuntary case or proceeding; 

 

 - 27 - 

 (C) consents to the appointment of a Custodian (as defined below) of it or
for all or substantially all of its property; 
 (D) makes a general assignment for the benefit of its
creditors; 
 (E) files a petition in bankruptcy or answer or consent seeking reorganization or relief;

 (F) consents to the filing of such petition or the appointment of or taking possession by a Custodian; or

 (G) takes any comparable action under any foreign laws relating to insolvency; 

(6) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(A) is for relief against the Company in an involuntary case, or adjudicates the Company insolvent or bankrupt;

 (B) appoints a Custodian of the Company or for all or substantially all of the property of the Company; or

 (C) orders the winding-up or liquidation of the Company (or any similar relief is granted under any foreign
laws), 
 and the order or decree remains unstayed and in effect for 90 days; or 

(7) any other Event of Default provided with respect to Securities of such series occurs. 

The term “Bankruptcy Law” means Title 11, United States Code, or any similar federal or state or foreign law for the
relief of debtors. The term “Custodian” means any custodian, receiver, trustee, assignee, liquidator or other similar official under any Bankruptcy Law. 

A Default with respect to Securities of any series under clause (4) of this Section 501 shall not be an Event of Default until
the Trustee (by written notice to the Company) or the Holders of at least 25% in aggregate principal amount of the outstanding Securities of such series (by written notice to the Company and the Trustee) gives notice of the Default and the Company
does not cure such Default within the time specified in clause (4) after receipt of such notice. Such notice must specify the Default, demand that it be remedied and state that such notice is a “Notice of Default.” 

Section 502. Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default with respect to Securities of any series at the time Outstanding (other than an Event of Default specified in
Section 501(5) or (6) with respect to the Company) occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% 

 

 - 28 - 

 
in aggregate principal amount of the Outstanding Securities of such series may declare the principal amount of all the Securities of such series (or, if any Securities of that series are Original
Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof), together with any accrued and unpaid interest thereon, to be due and payable immediately, by a notice in writing to the
Company (and to the Trustee if given by Holders), and upon any such declaration, such principal amount (or specified amount), together with any accrued and unpaid interest thereon, shall become immediately due and payable. If an Event of Default
specified in Section 501(5) or (6) with respect to the Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of such series (or, in the case of any Security of such series which specifies an
amount to be due and payable thereon upon acceleration of the Maturity thereof, such amount as may be specified by the terms thereof), together with any accrued and unpaid interest thereon, shall automatically, and without any declaration or other
action on the part of the Trustee or any Holder, become immediately due and payable. Upon payment of such amount, all obligations of the Company in respect of the payment of principal and interest of the Securities of such series shall terminate.

 Except as may otherwise be provided pursuant to Section 301 for all or any specific Securities of any series, at any
time after such a declaration of acceleration with respect to the Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article V provided, the
Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: 

 

	 	(1)	the Company has paid or deposited with the Trustee a sum sufficient to pay: 

 

	 	(A)	all overdue interest on all Securities of such series, 

  

	 	(B)	the principal of and premium, if any, on any Securities of such series which have become due otherwise than by such declaration of acceleration and any interest thereon
at the rate or rates prescribed therefor in the Securities of such series, 

  

	 	(C)	to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and

  

	 	(D)	all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and

  

	 	(2)	all Events of Default with respect to Securities of such series, other than the non-payment of the principal of Securities of such series which have become due solely
by such declaration of acceleration, have been cured or waived as provided in Section 512. 

 No such
rescission shall affect any subsequent default or impair any right consequent thereon. 
  

 - 29 - 

 Section 503. Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if (1) default is made in the payment of any interest on any Security when such interest becomes due and
payable and such default continues for a period of 30 days, or (2) default is made in the payment of the principal of or premium, if any, on any Security at the Maturity thereof, the Company will, upon demand of the Trustee, pay to it, for the
benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and premium, if any, and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any
overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 If an Event of Default
with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the
Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper
remedy. 
 Section 504. Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company (or any other obligor upon the Securities), its property or its creditors, the
Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In
particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due it and any predecessor Trustee under Section 607. 
 No provision of this Indenture shall be deemed to
authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee
to vote in respect of the claim of any Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a
creditors’ or other similar committee. 
 Section 505. Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the
possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee 

 

 - 30 - 

 
shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and
advances of the Trustee, any predecessor Trustee under Section 607, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 

Section 506. Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article V shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such money on account of principal or premium, if any, or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid: 
 FIRST: To the payment of all amounts due the Trustee under Section 607; 

SECOND: To the payment of the amounts then due and unpaid for principal of and premium, if any, and interest on the
Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and premium, if any, and
interest, respectively; and 
 THIRD: To the payment of the remainder, if any, to the Company. 

Section 507. Limitation on Suits. 

No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver, assignee, trustee, liquidator or sequestrator (or similar official) or for any other remedy hereunder, unless: 
  

	 	(1)	Such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of such series; 

 

	 	(2)	the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

  

	 	(3)	such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with
such request; 

  

	 	(4)	the Trustee has failed to institute any such proceeding for 60 days after its receipt of such notice, request and offer of indemnity; and 

 

 - 31 - 

	 	(5)	no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount
of the Outstanding Securities of such series; 

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

Section 508. Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert Securities. 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and
unconditional, to receive payment of the principal of and premium, if any, and, subject to Section 307, interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption or repayment, on the
Redemption Date or date for repayment, as the case may be, and, if the terms of such Security so provide, to convert such Security in accordance with its terms) and to institute suit for the enforcement of any such payment and, if applicable, any
such right to convert, and such rights shall not be impaired without the consent of such Holder. 
 Section 509. Rights and Remedies
Cumulative. 
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or
stolen Securities in the last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the
extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 Section 510. Delay or Omission Not
Waiver. 
 No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing
upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article V or by law to the Trustee or to the Holders may be
exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 511.
Control by Holders. 
 The Holders of not less than a majority in aggregate principal amount of the Outstanding
Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of
such series; provided that 
  

 - 32 - 

	 	(1)	such direction shall not be in conflict with any rule of law or with this Indenture, and 

 

	 	(2)	the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 

Section 512. Waiver of Past Defaults. 

The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series may on behalf of the
Holders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default 
  

	 	(1)	in the payment of the principal of or premium, if any, or interest on any Security of such series, or 

 

	 	(2)	in respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Security of such
series affected. 

 Upon any such waiver, such default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 513. Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken,
suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess reasonable costs against any such party litigant, in the manner and to the extent provided
in the Trust Indenture Act; provided that neither this Section 513 nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company or
the Trustee, a suit by a Holder under Section 508, or a suit by Holders of more than 10% in aggregate principal amount of the Outstanding Securities. 

Section 514. Waiver of Usury, Stay or Extension Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that
it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of
every such power as though no such law had been enacted. 
  

 - 33 - 

 Section 515. Restoration of Rights and Remedies. 

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has
been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be
restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

ARTICLE VI 

THE TRUSTEE 
 Section 601.
Certain Duties and Responsibilities of Trustee. 
  

	 	(1)	Except during the continuance of an Event of Default with respect to any series of Securities, 

 

	 	(A)	the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture with respect to the Securities of such series, and no
implied covenants or obligations shall be read into this Indenture against the Trustee with respect to such series; and 

  

	 	(B)	in the absence of bad faith on its part, the Trustee may rely with respect to the Securities of such series, as to the truth of the statements and the correctness of
the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required
to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or
other facts stated therein). 

  

	 	(2)	In case an Event of Default with respect to any series of Securities has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in
it by this Indenture with respect to the Securities of such series, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs.

  

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

  

	 	(A)	this Section 601(3) shall not be construed to limit the effect of Section 601(1); 

 

 - 34 - 

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

  

	 	(C)	the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a
majority in aggregate principal amount of the Outstanding Securities of any series, determined as provided in Sections Section 101, Section 104 and Section 511, relating to the time, method and place of conducting any proceeding for
any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series; and 

 

	 	(D)	no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its
duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

  

	 	(4)	Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the
Trustee shall be subject to the provisions of this Section 601. 

 Section 602. Notice of Defaults. 

If a Default or an Event of Default occurs with respect to Securities of any series and is continuing and if it is actually known to the
Trustee, the Trustee shall mail to each Holder of Securities of such series notice of the Default within 90 days after it is known to a Responsible Officer or written notice of it is received by a Responsible Officer of the Trustee. Except in the
case of a Default in payment of principal of or interest on any Security, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is not opposed to the
interests of Holders of Securities of such series. 
 Section 603. Certain Rights of Trustee. 

Subject to the provisions of Section 601: 
  

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

 

	 	(2)	if so requested by the Trustee, any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order, and any
resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution; 

  

 - 35 - 

	 	(3)	before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel, or both; 

 

	 	(4)	whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officer’s Certificate; 

 

	 	(5)	the Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection
in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

  

	 	(6)	the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders
pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or
direction; 

  

	 	(7)	the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see
fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall
incur no liability or additional liability of any kind by reason of such inquiry or investigation; 

  

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

  

	 	(9)	the rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and
shall be enforceable by, the Trustee in each of its capacities hereunder and to its agents; 

  

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

  

	 	(11)	 in no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but
not limited 

  

 - 36 - 

	 	 
to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action; 

 

	 	(12)	in no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or
indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or
malfunctions of utilities, communications or computer (software and hardware) services (it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to avoid and mitigate the
effects of such occurrences and to resume performance as soon as practicable under the circumstances); and 

  

	 	(13)	the Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee shall have actual knowledge thereof or
unless written notice of any event which is in fact such a default shall have been received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture. 

Section 604. Not Responsible for Recitals or Issuance of Securities. 

The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the
use or application by the Company of Securities or the proceeds thereof. 
 Section 605. May Hold Securities. 

The Trustee, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other capacity, may
become the owner or pledgee of Securities and, subject to Sections Section 608 and Section 613, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying Agent, Security Registrar or such other
agent. 
 Section 606. Money Held in Trust. 

Money held by the Trustee in trust hereunder shall, until used or applied as herein provided, be held in trust for the purposes for which
they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company. 

Section 607. Compensation and Reimbursement. 

The Company agrees 
  

 - 37 - 

	 	(1)	to pay to the Trustee from time to time such reasonable compensation as shall be agreed to in writing between the Company and the Trustee for all services rendered by
it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

  

	 	(2)	except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the
Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to
its negligence, willful misconduct or bad faith, and the Trustee shall provide the Company reasonable notice of any expenditure not in the ordinary course of business; and 

 

	 	(3)	to indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on its part, arising out of or in
connection with the acceptance or administration of the trust or trusts hereunder, including the reasonable costs and expenses of defending itself against any claim (whether asserted by any Holder, the Company or otherwise) or liability in
connection with the exercise or performance of any of its powers or duties hereunder including the costs and expenses of enforcing this Indenture (including this Section 607). 

When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 501(5) or (6), the
expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable federal or state bankruptcy, insolvency or other similar law.

 The Trustee shall have a lien prior to the Securities as to all property and funds held by it hereunder for any amount owing
it or any predecessor Trustee pursuant to this Section 607, except with respect to funds held in trust for the benefit of the Holders of Securities. 

The provisions of this Section 607 shall survive the termination of this Indenture and the resignation or removal of the Trustee.

 Section 608. Conflicting Interests. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either
eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. 

To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a
trustee under this Indenture with respect to Securities of more than one series. 
  

 - 38 - 

 Section 609. Corporate Trustee Required; Eligibility. 

There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee
hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus of at least $50,000,000. If any such Person publishes
reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section 609 and to the extent permitted by the Trust Indenture Act, the combined capital and
surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent annual report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible
in accordance with the provisions of this Section 609, it shall resign immediately in the manner and with the effect hereinafter specified in this Article VI. 

Section 610. Resignation and Removal; Appointment of Successor. 

No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective
until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 

The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company.
If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee, at the expense of the Company, may
petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate
principal amount of the Outstanding Securities of such series, upon written notice delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the
Trustee within 30 days after the giving of such notice of removal, the Trustee being removed, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities
of such series. 
 If at any time: 
  

	 	(1)	the Trustee shall fail to comply with Section 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a
Security for at least six months, or 

  

	 	(2)	the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or

  

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

  

 - 39 - 

 then, in any such case, (A) the Company may remove the Trustee with respect to all Securities or
(B) subject to Section 513, Holders of 10% in aggregate principal amount of Securities of any series who have been bona fide Holders of such Securities for at least six months may, on behalf of themselves and all others similarly
situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 

If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any
cause, with respect to the Securities of one or more series, the Company shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be
appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of
Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in
aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable
requirements of Section 611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any
series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 611, Holders of 10% in aggregate principal amount of Securities of any series who have been bona fide Holders of
Securities of such series for at least six months may, on behalf of themselves and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any
series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 106. Each notice shall include the name of the successor Trustee with
respect to the Securities of such series and the address of its Corporate Trust Office. 
 Section 611. Acceptance of Appointment by
Successor. 
 In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such
successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee a written instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective
and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee, but, on the request of the Company or the successor Trustee, such retiring Trustee
shall, upon payment of its charges, execute and deliver a written instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all
property and money held by such retiring Trustee hereunder. 
  

 - 40 - 

 In case of the appointment hereunder of a successor Trustee with respect to the Securities
of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall
accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary
or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring
Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or
in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other
such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed
or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the
Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which
the appointment of such successor Trustee relates. 
 Upon request of any such successor Trustee, the Company shall execute any
and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be. 

No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and
eligible under this Article VI. 
 Section 612. Merger, Conversion, Consolidation or Succession to Business. 

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

  

 - 41 - 

 
either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the
Securities or in this Indenture provided that the certificate of the Trustee shall have. 
 Section 613. Preferential Collection of Claims
Against Company. 
 If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the
Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor). 

ARTICLE VII 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 

Section 701. Company to Furnish Trustee Names and Addresses of Holders. 

If the Trustee is not the Security Registrar, the Company shall cause the Security Registrar to furnish to the Trustee, in writing at
least five Business Days before each Interest Payment Date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders of
Securities of each series. 
 Section 702. Preservation of Information; Communications to Holders. 

The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most
recent list furnished to the Trustee as provided in Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in
Section 701 upon receipt of a new list so furnished. 
 The rights of Holders to communicate with other Holders with
respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the
Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 

Section 703. Reports by Trustee. 

The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required
pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. The Trustee shall promptly deliver to the Company a copy of any report it delivers to Holders pursuant to this Section 703. 

A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange and
automated quotation system, if any, upon which any 
  

 - 42 - 

 
Securities are listed, with the SEC and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange or automated quotation system or delisted
therefrom. 
 Section 704. Reports by Company. 

The Company shall comply with all the applicable provisions of the Trust Indenture Act. Delivery of such reports, information and
documents to the Trustee is for informational purposes only and shall not constitute a representation or warranty as to the accuracy or completeness of the reports, information and documents. The Trustee’s receipt of such shall not constitute
constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on
Officer’s Certificates). 
 ARTICLE VIII 

CONSOLIDATION, MERGER AND SALE OF ASSETS 

Section 801. Company May Merge or Transfer Assets Only on Certain Terms. 

The Company shall not consolidate with or merge with or into, or sell, transfer, lease or convey all or substantially all of its
properties and assets to, in one transaction or a series of related transactions, any other Person, unless: 
  

	 	(1)	the Company shall be the continuing entity, or the resulting, surviving or transferee Person (the “Successor”) shall be a Person organized and existing
under the laws of the United States of America, any State thereof or the District of Columbia and the Successor (if not the Company) shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form
reasonably satisfactory to the Trustee, all the obligations of the Company under the Securities and this Indenture and, for each Security that by its terms provides for conversion, shall have provided for the right to convert such Security in
accordance with its terms; 

  

	 	(2)	immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; and 

 

	 	(3)	if requested, the Company shall have delivered to the Trustee an Officer’s Certificate stating that such transaction and such supplemental indenture, if any,
complies with this Indenture. 

 Section 802. Successor Corporation Substituted. 

The Successor shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture, with
the same effect as if the Successor had been an original party to this Indenture, and the Company shall be released from all its liabilities and obligations under this Indenture and the Securities. 

 

 - 43 - 

 ARTICLE IX 

SUPPLEMENTAL INDENTURES 

Section 901. Supplemental Indentures Without Consent of Holders. 

Without the consent of any Holders, the Company and the Trustee, at any time and from time to time, may enter into one or more indentures
supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
  

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

 

	 	(2)	to evidence the succession of another Person to the Company, or successive successions, and the assumption by the successor corporation of the covenants, agreements and
obligations of the Company pursuant to Article VIII; 

  

	 	(3)	to add any additional Events of Default for the benefit of the Holders of all or any series of Securities (and if such additional Events of Default are to be for the
benefit of less than all series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such series); 

 

	 	(4)	to add one or more guarantees for the benefit of Holders of the Securities; 

 

	 	(5)	to secure the Securities; 

  

	 	(6)	to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change
any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611; 

 

	 	(7)	to provide for the issuance of additional Securities of any series; 

  

	 	(8)	to establish the form or terms of Securities of any series as permitted by Sections Section 201 and Section 301; 

 

	 	(9)	to comply with the rules of any applicable Depositary; 

  

	 	(10)	to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities in uncertificated
form; 

  

	 	(11)	 to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities; provided that any such
addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to 

 

 - 44 - 

	 	 
the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such Security with respect to such provision or
(B) shall become effective only when there is no Security described in clause (i) Outstanding; 

  

	 	(12)	to cure any ambiguity, to correct or supplement any provision of this Indenture which may be defective or inconsistent with any other provision herein;

  

	 	(13)	to comply with any requirements of the SEC in connection with the qualification of the Indenture under the Act; and 

 

	 	(14)	to change any other provision under this Indenture; provided that such action pursuant to this clause (14) shall not adversely affect the interests of the
Holders of Securities of any series in any material respect. 

 Section 902. Supplemental Indentures With Consent of
Holders. 
 With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding
Securities of each series affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange for Securities), by Act of said Holders delivered to the Company and the Trustee, the Company and the
Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the
Holders of Securities of such series under this Indenture; provided, however, no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security of such series affected thereby: 

 

	 	(1)	change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security; 

 

	 	(2)	reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security or any other Security which would be due and
payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 503, or reduce the rate of interest on any Security; 

  

	 	(3)	reduce any premium payable upon the redemption of or change the date on which any Security may or must be redeemed; 

 

	 	(4)	change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; 

 

	 	(5)	impair the right of any Holder to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or
after the Redemption Date); 

  

	 	(6)	 reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such
supplemental indenture, or the consent of whose Holders is required for any waiver (of 

  

 - 45 - 

	 	 
compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture; 

 

	 	(7)	modify any of the provisions of this Section 902, Section 512 or Section 1005, except to increase any such percentage or to provide that certain other
provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any Holder
with respect to changes in the references to “the Trustee” and concomitant changes in this Section 902 and Section 1005, or the deletion of this proviso, in accordance with the requirements of Section 611 and
Section 901(6); or 

  

	 	(8)	if the Securities of any series are convertible into or for any other securities or property of the Company, make any change that adversely affects in any material
respect the right to convert any Security of such series (except as permitted by Section 901) or decrease the conversion rate or increase the conversion price of any such Security of such series, unless such decrease or increase is permitted by
the terms of such Security. 

 A supplemental indenture which changes or eliminates any covenant or other
provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other
provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 
 It
shall not be necessary for any Act of Holders under this Section 902 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

After a supplemental indenture under this Section 902 becomes effective, the Company shall mail to the Trustee a notice briefly
describing such supplemental indenture or a copy of such supplemental indenture and the Trustee shall mail such notice or supplemental indenture to Holders affected thereby. Any failure of the Company to mail such notice, or any defect therein, or
any failure of the Company to mail such supplemental indenture, shall not in any way impair or affect the validity of any such supplemental indenture. 

Section 903. Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article IX or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and, subject to Section 601, shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture and that all conditions precedent in this Indenture to the execution of such supplemental indenture, if any, have been complied with and that the supplemental indenture is the legal, valid and binding
obligation of the Company enforceable against it in accordance with its terms, subject to customary exceptions, and complies with Section 905; provided, however, that no such Opinion of Counsel shall be required in the case of

  

 - 46 - 

 
any supplemental indenture executed and delivered concurrently with the original execution and delivery of this Indenture. The Trustee may, but shall not be obligated to, enter into any such
supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Section 904.
Effect of Supplemental Indentures. 
 Upon the execution of any supplemental indenture under this Article IX, this
Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound
thereby. 
 Section 905. Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to this Article IX shall conform to the requirements of the Trust Indenture Act.

 Section 906. Reference in Securities to Supplemental Indentures. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article IX may,
and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the
opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 

ARTICLE X 

COVENANTS 
 Section 1001.
Payment of Principal, Premium, if any, and Interest. 
 The Company covenants and agrees for the benefit of each series
of Securities that it will duly and punctually pay the principal of and premium, if any, and interest on the Securities of such series in accordance with the terms of the Securities and this Indenture. Principal and interest shall be considered paid
on the date due if, on or before 11:00 a.m. (New York City time) on such date, the Trustee or the Paying Agent (or, if the Company or any of its Subsidiaries is the Paying Agent, the segregated account or separate trust fund maintained by the
Company or such Subsidiary pursuant to Section 1003) holds in accordance with this Indenture money sufficient to pay all principal and interest then due. 

The Company shall pay interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on
overdue installments of interest at the same rate to the extent lawful as provided in Section 307. 
 Notwithstanding
anything to the contrary contained in this Indenture, the Company or the Paying Agent may, to the extent it is required to do so by law, deduct or withhold income or 

 

 - 47 - 

 
other similar taxes imposed by the United States of America or other domestic or foreign taxing authorities from principal or interest payments hereunder. 

Section 1002. Maintenance of Office or Agency. 

The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of such series may
be presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer or exchange, where Securities may be surrendered for conversion, and where notices and demands to or upon the Company in respect
of the Securities of such series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to
maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. The Company hereby
appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company may also
from time to time designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt
written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

With respect to any Global Security, and except as otherwise may be specified for such Global Security as contemplated by
Section 301, the Corporate Trust Office of the Trustee shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or exchange, or where successor Securities may be
delivered in exchange therefor; provided, however, that any such payment, presentation, surrender or delivery effected pursuant to the Applicable Procedures of the Depositary for such Global Security shall be deemed to have been
effected at the Place of Payment for such Global Security in accordance with the provisions of this Indenture. 
 Section 1003. Money for
Securities Payments to Be Held in Trust. 
 If the Company shall at any time act as its own Paying Agent with respect to any
series of Securities, it will, on or before each due date for the principal of or premium, if any, or interest on any of the Securities of such series, segregate and hold in trust for the benefit of the Holders of such Securities a sum sufficient to
pay the principal and premium, if any, and interest so becoming due until such sums shall be paid to such Holders or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, no later than 11:00 a.m. (New York City
time) on each due date for the principal of or premium, if any, or interest on any Securities of such series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held in trust for the Holders of such

  

 - 48 - 

 
Securities entitled to the same, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 

The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section 1003, that such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by such Paying Agent for the
payment of principal of or interest on the Securities and shall notify the Trustee in writing of any default by the Company in making any such payment. 

The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay,
or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

Subject to any applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held by the Company,
in trust for the payment of the principal of or premium, if any, or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Company on
Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee
or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease. 
 Section
1004. Statement by Officers as to Default. 
 The Company shall deliver to the Trustee within 120 days after the end of
each fiscal year of the Company ending after the date hereof an Officer’s Certificate signed by its principal executive officer, principal financial officer or principal accounting officer, stating whether or not, to the best knowledge of such
officer, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided hereunder) and, if the Company shall be in
default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 
 Section 1005. Waiver of Certain
Covenants. 
 Except as otherwise specified as contemplated by Section 301 for Securities of such series, the Company
may, with respect to the Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Section 301(18), Section 901(1) or Section 901(8) for
the benefit of the Holders of such series, if before the time for such compliance the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of such series shall, by Act of such Holders,

  

 - 49 - 

 
either waive such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition
except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect.

 ARTICLE XI 

REDEMPTION OF SECURITIES 

Section 1101. Applicability of Article. 

Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except
as otherwise specified as contemplated by Section 301 for such Securities) in accordance with this Article XI. 
 Section 1102. Election
to Redeem; Notice to Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by a Board
Resolution or an Officer’s Certificate or in another manner specified as contemplated by Section 301 for such Securities. In case of any redemption at the election of the Company of the Securities of any series (including any such
redemption affecting only a single Security), the Company shall, at least 40 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the
principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the
terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with such restriction. 

Section 1103. Selection by Trustee of Securities to Be Redeemed. 

If less than all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified tenor are
to be redeemed or unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 40 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series
not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of a portion of the principal amount of any Security of such series; provided that the
unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified
tenor are to be redeemed (unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 40 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such
series and specified tenor not previously called for redemption in accordance with the preceding sentence. 
 If any Security
selected for partial redemption is converted in part before termination of the conversion right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion
selected for redemption. 
  

 - 50 - 

 
Securities which have been converted during a selection of securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection. 

The Trustee shall promptly notify the Company in writing of the Securities selected for redemption as aforesaid and, in case of any
Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed. 
 The provisions of the
two preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the
principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. 

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

Section 1104. Notice of Redemption. 

Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior to the
Redemption Date (or within such period as otherwise specified as contemplated by Section 301 for Securities of a series), to each Holder of Securities to be redeemed, at such Holder’s address appearing in the Security Register. 

All notices of redemption shall identify the Securities to be redeemed and state: 

 

	 	(1)	the Redemption Date; 

  

	 	(2)	the Redemption Price (or the method of calculating such price); 

  

	 	(3)	if less than all the Outstanding Securities of any series consisting of more than a single Security are to be redeemed, the identification (and, in the case of partial
redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series consisting of a single Security are to be redeemed, the principal amount of the
particular Security to be redeemed; 

  

	 	(4)	that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease
to accrue on and after said date; 

  

	 	(5)	the place or places where each such Security is to be surrendered for payment of the Redemption Price; 

 

	 	(6)	for any Securities that by their terms may be converted, the terms of conversion, the date on which the right to convert the Security to be redeemed will terminate and
the place or places where such Securities may be surrendered for conversion; 

  

 - 51 - 

	 	(7)	that the redemption is for a sinking fund, if such is the case; and 

  

	 	(8)	if applicable, the CUSIP numbers of the Securities of such series; provided, however, that no representation will be made as to the correctness or
accuracy of the CUSIP number, or any similar number, if any, listed in such notice or printed on the Securities. 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request (which may be rescinded or revoked at any time prior to the time at which the Trustee shall have given such notice to the Holders), by the Trustee in the name and at the expense of the Company. The notice, if mailed in the manner herein
provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice. In any case, failure to give such notice by mail or any defect in the notice to the Holder of any Security designated for redemption as a
whole or in part shall not affect the validity of the proceedings for the redemption of any other Securities. 
 Section 1105. Deposit of
Redemption Price. 
 By no later than 11:00 a.m. (New York City time) on any Redemption Date, the Company shall deposit with
the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date
shall be an Interest Payment Date or the Securities of the series provide otherwise) accrued interest on, all the Securities which are to be redeemed on that date, other than Securities or portions of Securities called for redemption which are owned
by the Company or a Subsidiary and have been delivered by the Company or such Subsidiary to the Trustee for cancellation. All money, if any, earned on funds held by the Paying Agent shall be remitted to the Company. In addition, the Paying Agent
shall promptly return to the Company any money deposited with the Paying Agent by the Company in excess of the amounts necessary to pay the Redemption Price of, and accrued interest, if any, on, all Securities to be redeemed. 

If any Security called for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and
held in trust for the redemption of such Security shall (subject to any right of the Holder of such Security or any Predecessor Security to receive interest as provided in the last paragraph of Section 307 or in the terms of such Security) be
paid to the Company upon Company Request or, if then held by the Company, shall be discharged from such trust. 
 Section 1106. Securities
Payable on Redemption Date. 
 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear
interest. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together, if applicable, with accrued interest to the Redemption Date; provided,
however, that, unless otherwise specified as contemplated by 
  

 - 52 - 

 
Section 301, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 307; provided further that, unless otherwise specified as contemplated by Section 301, if the Redemption
Date is after a Regular Record Date and on or prior to the Interest Payment Date, the accrued and unpaid interest shall be payable to the Holder of the redeemed Securities registered on the relevant Regular Record Date. 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any,
shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
 Section 1107. Securities
Redeemed in Part. 
 Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor
(with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in
writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as
requested by such Holder, in principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 

ARTICLE XII 

SINKING FUNDS 
 Section
1201. Applicability of Article. 
 The provisions of this Article XII shall be applicable to any sinking fund for the
retirement of Securities of any series except as otherwise specified as contemplated by Section 301 for such Securities. 

The minimum amount of any sinking fund payment provided for by the terms of any series of Securities is herein referred to as a
“mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of such Securities is herein referred to as an “optional sinking fund payment.” If provided for by the terms of any
series of Securities, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund payment shall be applied to the redemption of Securities of the series as provided for by the terms of
such Securities. 
 Section 1202. Satisfaction of Sinking Fund Payments with Securities. 

The Company (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may
apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of such 

 

 - 53 - 

 
Securities as and to the extent provided for by the terms of such Securities; provided that the Securities to be so credited have not been previously so credited. The Securities to be so
credited shall be received and credited for such purpose by the Trustee at the Redemption Price, as specified in the Securities so to be redeemed, for redemption through operation of the sinking fund and the amount of such sinking fund payment shall
be reduced accordingly. 
 Section 1203. Redemption of Securities for Sinking Fund. 

Not less than 60 days (or such shorter period as shall be satisfactory to the Trustee) prior to each sinking fund payment date for any
Securities, the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof, if any, which is to
be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities pursuant to Section 1202 and will also deliver to the Trustee any Securities to be so delivered. Not less than 30
days prior to each such sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given in the
name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections Section 1106 and
Section 1107. 
 ARTICLE XIII 

DEFEASANCE AND COVENANT DEFEASANCE 

Section 1301. Company’s Option to Effect Defeasance or Covenant Defeasance. 

Unless otherwise provided as contemplated by Section 301, Sections Section 1302 and Section 1303 shall apply to all
Securities or each series of Securities, as the case may be, in either case, denominated in U.S. dollars and bearing interest at a fixed rate, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance
with the conditions set forth below in this Article XIII; and the Company may elect, at its option at any time, to have Sections Section 1302 and Section 1303 applied to any Securities or any series of Securities, as the case may be,
designated pursuant to Section 301 as being defeasible pursuant to such Section Section 1302 or Section 1303, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions
set forth below in this Article XIII. Any such election to have or not to have Sections Section 1302 and Section 1303 apply, as the case may be, shall be evidenced by a Board Resolution, Officer’s Certificate or in another manner
specified as contemplated by Section 301 for such Securities. 
 Section 1302. Defeasance and Discharge. 

Upon the Company’s exercise of its option, if any, to have this Section 1302 applied to any Securities or any series of
Securities, as the case may be, or if this Section 1302 shall otherwise apply to any Securities or any series of Securities, as the case may be, the Company shall be deemed to have been discharged from its obligations with respect to such
Securities as provided in this Section 1302 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that the

  

 - 54 - 

 
Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and to have satisfied all its other obligations under such Securities and this Indenture
insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder:
(1) the rights of Holders of such Securities to receive, solely from the trust fund described in Section 1304 and as more fully set forth in such Section 1305, payments in respect of the principal of and premium, if any, and interest
on such Securities when payments are due, (2) the Company’s obligations with respect to such Securities under Sections Section 304, Section 305, Section 306, Section 1002 and Section 1003, (3) the rights,
powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article XIII. Subject to compliance with this Article XIII, the Company may exercise its option, if any, to have this Section 1302 applied to the Securities of any
series notwithstanding the prior exercise of its option, if any, to have Section 1303 applied to such Securities. 
 Section 1303.
Covenant Defeasance. 
 Upon the Company’s exercise of its option, if any, to have this Section 1303 applied to
any Securities or any series of Securities, as the case may be, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, as the case may be, (1) the Company shall be released from its obligations under
any covenants provided pursuant to Section 301(18), Section 901(1) or Section 901(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Sections Section 501(4) and
Section 501(7) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied
(hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit to comply with and shall have no liability in respect of any term, condition or
limitation set forth in any such specified Section, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other
document, but the remainder of this Indenture and such Securities shall be unaffected thereby. 
 Section 1304. Conditions to Defeasance or
Covenant Defeasance. 
 The following shall be the conditions to the application of Section 1302 or Section 1303
to any Securities or any series of Securities, as the case may be: 
  

	 	(1)	 The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee which satisfies the requirements
contemplated by Section 609 and agrees to comply with the provisions of this Article XIII applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to,
the benefits of the Holders of such Securities, (A) money in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide money
in an amount, or (C) a combination thereof, in each case sufficient, in the opinion of a 

  

 - 55 - 

	 	 
nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee
(or any such other qualifying trustee) to pay and discharge, the principal of and premium, if any, and interest on such Securities on the respective Stated Maturities, in accordance with the terms of this Indenture and such Securities. As used
herein, “U.S. Government Obligation” means (x) any security which is (i) a direct obligation of the United States of America for the payment of which the full faith and credit of the United States of America is pledged or
(ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States
of America, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with
respect to any U.S. Government Obligation which is specified in clause (x) above and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any U.S.
Government Obligation which is so specified and held; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received
by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt. 

  

	 	(2)	In the event of an election to have Section 1302 apply to any Securities or any series of Securities, as the case may be, the Company shall have delivered to the
Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date of this Indenture, there has been a change in the applicable Federal
income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit,
Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and discharge were not to
occur. 

  

	 	(3)	In the event of an election to have Section 1303 apply to any Securities or any series of Securities, as the case may be, the Company shall have delivered to the
Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with respect to such Securities and
will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 

 

 - 56 - 

	 	(4)	The Company shall have delivered to the Trustee an Officer’s Certificate to the effect that neither such Securities nor any other Securities of the same series, if
then listed on any securities exchange, will be delisted as a result of such deposit. 

  

	 	(5)	No Default or Event of Default with respect to such Securities or any other Securities shall have occurred and be continuing at the time of such deposit or, insofar as
Sections 501(5) or 501(6) are concerned, at any time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day). 

 

	 	(6)	Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any other material agreement or instrument to which
the Company is a party or by which it is bound. 

  

	 	(7)	The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent with respect to such
Defeasance or Covenant Defeasance have been complied with (in each case, subject to the satisfaction of the condition in clause (5)). 

Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future
date in accordance with Article XI. 
 Section 1305. Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous
Provisions. 
 Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government
Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section 1305 and Section 1306, the Trustee and any such other trustee are referred to collectively as the
“Trustee”) pursuant to Section 1304 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or
through any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and premium, if any, and
interest, but money so held in trust need not be segregated from other funds except to the extent required by law. 
 The
Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other
than any such tax, fee or other charge which by law is for the account of the Holders of Outstanding Securities; provided that the Trustee shall be entitled to charge any such tax, fee or other charge to such Holder’s account.

 Anything in this Article XIII to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to
time upon Company Request any money or U.S. Government Obligations held by it as provided in Section 1304 with respect to any Securities which are in excess of the amount thereof which would then be required to be deposited to effect the
Defeasance or Covenant Defeasance, as the case may be, with respect to such Securities. 
  

 - 57 - 

 Section 1306. Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article XIII with respect to any Securities by
reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities from which the Company has been discharged or
released pursuant to Section 1302 or Section 1303 shall be revived and reinstated as though no deposit had occurred pursuant to this Article XIII with respect to such Securities, until such time as the Trustee or Paying Agent is permitted
to apply all money held in trust pursuant to Section 1305 with respect to such Securities in accordance with this Article XIII; provided, however, that (a) if the Company makes any payment of principal of or premium, if any,
or interest on any such Security following such reinstatement of its obligations, the Company shall be subrogated to the rights, if any, of the Holders of such Securities to receive such payment from the money so held in trust and (b) unless
otherwise required by any legal proceeding or any order or judgment of any court or governmental authority, the Trustee or Paying Agent shall return all such money and U.S. Government Obligations to the Company promptly after receiving a written
request therefor at any time, if such reinstatement of the Company’s obligations has occurred and continues to be in effect. 

ARTICLE XIV 

REPAYMENT AT THE OPTION OF HOLDERS 

Section 1401. Applicability of Article. 

Repayment of Securities of any series before their Stated Maturity at the option of Holders thereof shall be made in accordance with the
terms of such Securities and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article XIV. 

Section 1402. Repayment of Securities. 

Securities of any series subject to repayment in whole or in part at the option of the Holders thereof will, unless otherwise provided in
the terms of such Securities, be repaid at a price equal to the principal amount thereof and premium, if any, thereon, together with interest thereon accrued to the Repayment Date specified in or pursuant to the terms of such Securities. The Company
covenants that on or before the Repayment Date it will deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient
to pay the principal (or, if so provided by the terms of the Securities of any series, a percentage of the principal) of, the premium, if any, and (except if the Repayment Date shall be an Interest Payment Date) accrued interest on, all the
Securities or portions thereof, as the case may be, to be repaid on such date. 
 Section 1403. Exercise of Option. 

Securities of any series subject to repayment at the option of the Holders thereof will contain an “Option to Elect Repayment”
form on the reverse of such Securities. To be repaid at the option of the Holder, any Security so providing for such repayment, with the “Option to Elect 

 

 - 58 - 

 
Repayment” form on the reverse of such Security duly completed by the Holder (or by the Holder’s attorney duly authorized in writing), must be received by the Company at the Place of
Payment therefor specified in the terms of such Security (or at such other place or places of which the Company shall from time to time notify the Holders of such Securities) not earlier than 45 days nor later than 30 days prior to the Repayment
Date. If less than the entire principal amount of such Security is to be repaid in accordance with the terms of such Security, the principal amount of such Security to be repaid, in increments of the minimum denomination for Securities of such
series, and the denomination or denominations of the Security or Securities to be issued to the Holder for the portion of the principal amount of such Security surrendered that is not to be repaid, must be specified. The principal amount of any
Security providing for repayment at the option of the Holder thereof may not be repaid in part if, following such repayment, the unpaid principal amount of such Security would be less than the minimum authorized denomination of Securities of the
series of which such Security to be repaid is a part. Except as otherwise may be provided by the terms of any Security providing for repayment at the option of the Holder thereof, exercise of the repayment option by the Holder shall be irrevocable
unless waived by the Company. 
 Section 1404. When Securities Presented for Repayment Become Due and Payable. 

If Securities of any series providing for repayment at the option of the Holders thereof shall have been surrendered as provided in this
Article XIV and as provided by or pursuant to the terms of such Securities, such Securities or the portions thereof, as the case may be, to be repaid shall become due and payable and shall be paid by the Company on the Repayment Date therein
specified, and on and after such Repayment Date (unless the Company shall default in the payment of such Securities on such Repayment Date) such Securities shall, if the same were interest-bearing, cease to bear interest. Upon surrender of any such
Security for repayment in accordance with such provisions, the principal amount of such Security so to be repaid shall be paid by the Company, together with accrued interest and/or premium, if any, to (but excluding) the Repayment Date;
provided, however, that, unless otherwise specified as contemplated by Section 301, installments of interest, if any, whose Stated Maturity is on or prior to the Repayment Date shall be payable (but without interest thereon,
unless the Company shall default in the payment thereof) to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to their terms and the provisions
of Section 307. 
 If the principal amount of any Security surrendered for repayment shall not be so repaid upon surrender
thereof, such principal amount (together with interest, if any, thereon accrued to such Repayment Date) and any premium shall, until paid, bear interest from the Repayment Date at the rate of interest or yield to maturity (in the case of Original
Issue Discount Securities) set forth in such Security. 
 Section 1405. Securities Repaid in Part. 

Upon surrender of any Security which is to be repaid in part only, the Company shall execute and the Trustee shall authenticate and
deliver to the Holder of such Security, without service charge and at the expense of the Company, a new Security or Securities of the same series, of any authorized denomination specified by the Holder, in a principal amount equal to

  

 - 59 - 

 
and in exchange for the portion of the principal of such Security so surrendered which is not to be repaid. 

*            *          
  * 
  

 - 60 - 

 This Indenture may be executed in any number of counterparts, each of which so executed
shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

[Signature page follows] 
  

 - 61 - 

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

			
	EXCO RESOURCES, INC.
		
	 By:
	 	/s/ William L. Boeing
		 	 Name: William L. Boeing

Title: Vice President, General Counsel and Secretary

	
	 WILMINGTON TRUST COMPANY,
as Trustee

		
	 By:
	 	/s/ W. Thomas Morris, II
		 	 Name: W. Thomas Morris, II

Title: Vice President

  

 - 62 -First Supplemental Indenture

 Exhibit 4.2 

 
  

 
 EXCO RESOURCES, INC., 

as Issuer 

SUBSIDIARY GUARANTORS, 

as Guarantors 

7.500% Senior Notes Due 2018 

FIRST SUPPLEMENTAL INDENTURE 

Dated as of September 15, 2010 

WILMINGTON TRUST COMPANY, 

as Trustee 
  

 
  

 Table of Contents 

 

			
	 	  	Page
		
	Recitals of the Company	  	
		
	ARTICLE 1	  	
		
	Establishment of Series	  	
		
	 SECTION 1.01.     Establishment
	  	2
	 SECTION 1.02.     Rules of Construction
	  	3
		
	ARTICLE 2	  	
		
	Definitions and Incorporation by Reference	  	
		
	 SECTION 2.01.     Amendments to Definitions
	  	3
	 SECTION 2.02.     New Definitions
	  	4
	 SECTION 2.03.     Other Definitions
	  	42
	 SECTION 2.04.     Incorporation by Reference of Trust Indenture Act
	  	42
		
	ARTICLE 3	  	
		
	Redemption	  	
		
	 SECTION 3.01.     Original Indenture
	  	43
	 SECTION 3.02.     Optional Redemption
	  	43
	 SECTION 3.03.     Mandatory Redemption
	  	44
	 SECTION 3.04.     Notices to Trustee
	  	44
	 SECTION 3.05.     Selection of Securities to Be Redeemed
	  	44
	 SECTION 3.06.     Notice of Redemption
	  	44
		
	ARTICLE 4	  	
		
	Covenants	  	
		
	 SECTION 4.01.     Original Indenture
	  	45
	 SECTION 4.02.     Covenant Suspension
	  	45
	 SECTION 4.03.     Payment of Securities
	  	46
	 SECTION 4.04.     SEC Reports
	  	46
	 SECTION 4.05.     Limitation on Indebtedness
	  	47
	 SECTION 4.06.     Limitation on Restricted Payments
	  	51

  

 i 

			
	 SECTION 4.07.     Limitation on Restrictions on Distributions from Restricted
Subsidiaries
	  	56
	 SECTION 4.08.     Limitation on Sales of Assets and Subsidiary Stock
	  	59
	 SECTION 4.09.     Limitation on Affiliate Transactions
	  	62
	 SECTION 4.10.     Limitation on Line of Business
	  	64
	 SECTION 4.11.     Change of Control
	  	65
	 SECTION 4.12.     Limitation on Liens
	  	66
	 SECTION 4.13.     Limitation on Sale/Leaseback Transactions
	  	66
	 SECTION 4.14.     Future Guarantors
	  	67
	 SECTION 4.15.     Further Instruments and Acts
	  	67
		
	ARTICLE 5	  	
		
	Successor Company	  	
		
	 SECTION 5.01.     Original Indenture
	  	67
	 SECTION 5.02.     When Company May Merge or Transfer Assets
	  	67
		
	ARTICLE 6	  	
		
	Defaults and Remedies	  	
		
	 SECTION 6.01.     Original Indenture
	  	69
	 SECTION 6.02.     Events of Default
	  	69
	 SECTION 6.03.     Acceleration
	  	71
	 SECTION 6.04.     Other Remedies
	  	72
	 SECTION 6.05.     Control by Majority
	  	72
	 SECTION 6.06.     Limitation on Suits
	  	72
	 SECTION 6.07.     Rights of Holders to Receive Payment
	  	73
	 SECTION 6.08.     Collection Suit by Trustee
	  	73
	 SECTION 6.09.     Trustee May File Proofs of Claim
	  	73
	 SECTION 6.10.     Undertaking for Costs
	  	74
	 SECTION 6.11.     Waiver of Stay or Extension Laws
	  	74
	 SECTION 6.12.     Notice of Defaults
	  	74
		
	ARTICLE 7	  	
		
	Discharge of Indenture; Defeasance	  	
		
	 SECTION 7.01.     Original Indenture
	  	74
	 SECTION 7.02.     Discharge of Liability on Securities; Defeasance
	  	74

  

 ii 

			
	 SECTION 7.03.     Conditions to Defeasance
	  	75
	 SECTION 7.04.     Application of Trust Money
	  	76
	 SECTION 7.05.     Repayment to Company
	  	77
	 SECTION 7.06.     Indemnity for Government Obligations
	  	77
	 SECTION 7.07.     Reinstatement
	  	77
		
	ARTICLE 8	  	
		
	Amendments and Waivers	  	
		
	 SECTION 8.01.     Original Indenture
	  	77
	 SECTION 8.02.     Without Consent of Holders
	  	77
	 SECTION 8.03.     With Consent of Holders
	  	78
	 SECTION 8.04.     Compliance with Trust Indenture Act
	  	79
	 SECTION 8.05.     Revocation and Effect of Consents and Waivers
	  	79
	 SECTION 8.06.     Notation on or Exchange of Securities
	  	80
	 SECTION 8.07.     Trustee To Sign Amendments
	  	80
	 SECTION 8.08.     Payment for Consent
	  	80
		
	ARTICLE 9	  	
		
	Subsidiary Guaranties	  	
		
	 SECTION 9.01.     Guaranties
	  	80
	 SECTION 9.02.     Limitation on Liability
	  	82
	 SECTION 9.03.     Successors and Assigns
	  	82
	 SECTION 9.04.     No Waiver
	  	82
	 SECTION 9.05.     Modification
	  	83
	 SECTION 9.06.     Release of Subsidiary Guarantor
	  	83
	 SECTION 9.07.     Contribution
	  	84
		
	ARTICLE 10	  	
		
	Miscellaneous	  	
		
	 SECTION 10.01.    Communication by Holders with Other Holders
	  	84
	 SECTION 10.02.    When Securities Disregarded
	  	84
	 SECTION 10.03.    No Recourse Against Others
	  	84
	 SECTION 10.04.    Effect of Headings and Table of Contents
	  	84
	 SECTION 10.05.    Successors and Assigns
	  	84

  

 iii 

			
	 SECTION 10.06.     Separability Clause
	  	85
	 SECTION 10.07.     Governing Law
	  	85
	 SECTION 10.08.     Rules by Trustee, Paying Agent and Registrar
	  	85
	 SECTION 10.09.     No Adverse Interpretation of Other Agreements
	  	85
	 SECTION 10.10.     Multiple Originals
	  	85

  

 iv 

 FIRST SUPPLEMENTAL INDENTURE dated as of September 15, 2010, among EXCO RESOURCES,
INC., a Texas corporation (the “Company”), the SUBSIDIARY GUARANTORS (as defined below) from time to time party hereto and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as trustee (the “Trustee”). 

Recitals of the Company 

WHEREAS, the Company and the Trustee executed and delivered an Indenture, dated as of September 15, 2010 (the “Original
Indenture”) to provide for the issuance by the Company from time to time of its senior unsecured debt securities (herein called the “Debt Securities”), to be issued in one or more series as provided in the Original Indenture;

 WHEREAS, the Original Indenture is incorporated herein by this reference, and the Original Indenture, as supplemented by this
First Supplemental Indenture and any other supplemental indentures applicable to the Debt Securities created pursuant to this First Supplemental Indenture, is herein called the “Indenture”; 

WHEREAS, under the Original Indenture, a new series of senior unsecured notes may at any time be established in or pursuant to a Board
Resolution, an Officer’s Certificate or one or more indentures supplemental to the Original Indenture; 
 WHEREAS, the
Company proposes to create under the Indenture a new series of senior unsecured notes and to add new provisions to, and change and eliminate certain existing provisions of, the Original Indenture in respect of such new series of senior unsecured
notes; 
 WHEREAS, additional senior unsecured notes of other series hereafter established, except as may be limited in the
Original 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; 

WHEREAS, no Debt Security of any series has been created prior to the date of execution of this First Supplemental Indenture; and

 WHEREAS, all conditions necessary to authorize the execution and delivery of this First Supplemental Indenture and make it a
valid and binding obligation of the Company in accordance with its terms, have been done or performed. 

 NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises set forth herein and for other good and valuable consideration the sufficiency of which is
hereby acknowledged, it is mutually agreed as follows: 
 ARTICLE 1 

Establishment of Series 

SECTION 1.01. Establishment. There is hereby established a new series of senior notes to be issued under the Indenture, to be
designated as the Company’s 7.500% Senior Notes due 2018 (the “Securities”). 
 There are to be authenticated and
delivered Securities, initially limited in aggregate principal amount of $750,000,000 and no further Securities shall be authenticated and delivered except as provided by the terms of the Original Indenture and the terms of this First Supplemental
Indenture; provided, however, that additional Securities having identical terms and conditions as the Securities other than issue date, the issue price, the date from which interest thereon shall accrue, legends, if any, to be included
thereon and the first Interest Payment Date (the “Additional Securities”) may be issued from time to time in the future, without the consent of the Holders of the Securities, in accordance with the provisions of the Indenture. With respect
to any Additional Securities, the Company shall set forth in a resolution of the Board of Directors or an Officers’ Certificate, the following information: 

(a) the aggregate principal amount of such Additional Securities to be authenticated and delivered pursuant to the Indenture; 

(b) the issue date, the issue price, the first Interest Payment Date of such Additional Securities, the date from which interest shall
accrue and legends, if any, to be included thereon; and 
 (c) the CUSIP and ISIN numbers of the Additional Securities.

 The Securities and the Additional Securities, if any, shall be considered collectively as a single class for all purposes of
the Indenture. Holders of the Securities and the Additional Securities, if any, shall vote and consent together on all matters to which such Holders are entitled to vote or consent as one class, and none of the Holders of the Securities or the
Additional Securities, if any, shall have the right to vote or consent as a separate class on any matter to which such Holders are entitled to vote or consent. 

The Securities shall be issued in fully registered form without coupons, and only in denominations of $2,000 and larger integral
multiples of $1,000. The Securities shall be issued in the form of one or more Global Securities in substantially the form set out in Exhibit A hereto. The initial Depositary with respect to the Securities shall be DTC. Payments in respect of
Securities represented by a Global Security (including principal, premium and interest) shall be made by wire transfer of immediately available funds to the accounts specified by DTC. 

Each Security 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. 
  

 2 

 The Securities may have notations, legends or endorsements required by law, stock exchange
rule or usage or DTC rule or usage in addition to those set forth on Exhibit A. The Company and the Trustee shall approve the forms of the Securities and any notation, endorsement or legend on them, such approval to be evidenced by the
execution or authentication, respectively, and delivery of the Securities by the Company or the Trustee, respectively. The terms of the Securities set forth in Exhibit A are part of the terms of the Indenture and, to the extent applicable,
the Company and the Trustee, by their execution and delivery of this First Supplemental Indenture, expressly agree to be bound by such terms. 

SECTION 1.02. Rules of Construction. Unless the context otherwise requires: 

(1) a term has the meaning assigned to it; 

(2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(3) “or” is not exclusive; 

(4) “including” means including without limitation; 

(5) words in the singular include the plural and words in the plural include the singular; 

(6) unsecured Indebtedness shall not be deemed to be subordinate or junior to secured Indebtedness merely by virtue of its
nature as unsecured Indebtedness; 
 (7) secured Indebtedness shall not be deemed to be subordinate or junior to
any other secured Indebtedness merely because it has a junior priority with respect to the same collateral; 

(8) the principal amount of any noninterest bearing or other discount security at any date shall be the principal amount
thereof that would be shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP; 

(9) the principal amount of any Preferred Stock shall be (A) the maximum liquidation value of such Preferred Stock or
(B) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; and 

(10) all references to the date the Securities were originally issued shall refer to the Issue Date. 

ARTICLE 2 

Definitions and Incorporation by Reference 

SECTION 2.01. Amendments to Definitions. Each capitalized term used but not defined in this First Supplemental Indenture
shall have the meaning given to it in the Original Indenture, except that with respect to the Securities (1) the definition of “Commission,” in the Original Indenture is hereby deleted in its entirety and (2) the definitions of
“Affiliate,” “GAAP,” and “Stated Maturity,” in the Original Indenture are hereby deleted in their entirety and restated as follows (in alphabetical order): 

 

 3 

 “Affiliate” of any specified Person means any other Person, directly or
indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management
and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. For
purposes of Sections 4.06, 4.08 and 4.09 of this First Supplemental Indenture only, “Affiliate” shall also mean any beneficial owner of Capital Stock representing 20% or more of the total voting power of the Voting Stock (on a fully
diluted basis) of the Company or of rights or warrants to purchase such Capital Stock (whether or not currently exercisable) and any Person who would be an Affiliate of any such beneficial owner pursuant to the first sentence hereof. 

“GAAP” means generally accepted accounting principles in the United States as in effect as of the Issue Date, including those
set forth in: 
 (1) the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified
Public Accountants; 
 (2) statements and pronouncements of the Financial Accounting Standards Board; and 

(3) such other statements by such other entity as approved by a significant segment of the accounting profession. 

“Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the final
payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening of
any contingency unless such contingency has occurred). 
 SECTION 2.02. New Definitions. The following defined terms
used herein with respect to the Securities shall, unless the context otherwise requires, have the meanings specified below. 

“Additional Assets” means (1) any property, plant or equipment or other assets (including Capital Stock of a Person
engaged in a Related Business) used in a Related Business; (2) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Company or another Restricted Subsidiary; or
(3) Capital Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary; provided, however, that any such Restricted Subsidiary described in clause (2) or (3) above is primarily engaged in
a Related Business. 
  

 4 

 “Adjusted Consolidated Net Tangible Assets” or “ACNTA” means (without
duplication), as of the date of determination: 
 (a) the sum of: 

(1) discounted future net revenue from proved crude oil and natural gas reserves of the Company and its Restricted
Subsidiaries calculated in accordance with SEC guidelines before any state or federal income taxes, as estimated in a reserve report prepared as of the end of the fiscal year ending at least 40 days prior to the date of determination, which reserve
report is prepared or audited by independent petroleum engineers, as increased by, as of the date of determination, the discounted future net revenue calculated in accordance with SEC guidelines (utilizing the prices utilized in such year end
reserve report) of: 
 (A) estimated proved crude oil and natural gas reserves of the Company and its Restricted
Subsidiaries attributable to acquisitions consummated since the date of such reserve report, and 
 (B) estimated
crude oil and natural gas reserves of the Company and its Restricted Subsidiaries attributable to extensions, discoveries and other additions and upward determinations of estimates of proved crude oil and natural gas reserves (including previously
estimated development costs incurred during the period and the accretion of discount since the prior period end) due to exploration, development or exploitation, production or other activities which reserves were not reflected in such reserve report
which would, in accordance with standard industry practice, result in such determinations, in each case calculated in accordance with SEC guidelines (utilizing the prices utilized in such year end reserve report) 

and decreased by, as of the date of determination, the discounted future net revenue attributable to: 

(C) estimated proved crude oil and natural gas reserves of the Company and its Restricted Subsidiaries reflected in such
reserve report produced or disposed of since the date of such reserve report, and 
 (D) reductions in the
estimated oil and natural gas reserves of the Company and its Restricted Subsidiaries reflected in such reserve report since the date of such reserve report attributable to downward determinations of estimates of proved crude oil and natural gas
reserves due to exploration, development or exploitation, production or other activities conducted or otherwise occurring since the date of such reserve report which would, in accordance with standard industry practice, result in such
determinations, in each case calculated in accordance with SEC guidelines (utilizing the prices utilized in such reserve report); 

provided, however, that, in the case of each of the determinations made pursuant to clauses (A) through (D) above, such
increases and decreases shall be estimated by the Company’s engineers or by an independent petroleum engineer engaged by the Company for that purpose; 
  

 5 

 (2) the capitalized costs that are attributable to crude oil and natural gas
properties of the Company and its Restricted Subsidiaries to which no proved crude oil and natural gas reserves are attributed, based on the Company’s books and records as of a date no earlier than the end of the most recent fiscal quarter for
which financial statements of the Company have been made publicly available prior to the date of determination; 

(3) the Net Working Capital as of the end of the most recent fiscal quarter ending at least 40 days prior to the date of
determination; and 
 (4) the greater of (i) the net book value as of a date no earlier than the end of the
most recent fiscal quarter ending at least 40 days prior to the date of determination and (ii) the appraised value, as estimated by independent appraisers (which may be a nationally recognized investment banking firm), of all other tangible
assets, including mineral rights held under leases or other contractual arrangements, of the Company and its Restricted Subsidiaries as of a date no earlier than the most recent fiscal year ending at least 40 days prior to the date of determination
(provided, however, that the Company shall not be required to obtain such an appraisal of such assets solely for the purpose of determining this value); minus 

(b) to the extent not otherwise taken into account in the immediately preceding clause (a), the sum of 

(1) minority interests; 

(2) any natural gas balancing liabilities of the Company and its Restricted Subsidiaries reflected in the Company’s
latest audited consolidated financial statements; 
 (3) the discounted future net revenue, calculated in
accordance with SEC guidelines (utilizing the same prices utilized in the Company’s year-end reserve report), attributable to reserves subject to participation interests, overriding royalty interests or other interests of third parties,
pursuant to participation, partnership, vendor financing or other agreements then in effect, or which otherwise are required to be delivered to third parties; 

(4) to the extent included in the immediately preceding clause (a) (1) above, the discounted future net revenue
calculated in accordance with SEC guidelines (utilizing the same prices utilized in the Company’s year-end reserve report), attributable to reserves that are required to be delivered to third parties to fully satisfy the obligations of the
Company and its Restricted Subsidiaries with respect to Volumetric Production Payments on the schedules specified with respect thereto; and 

(5) the discounted future net revenue, calculated in accordance with SEC guidelines, attributable to reserves subject to
Dollar Denominated Production Payments that, based on the estimates of production included in determining the discounted future net revenue specified in the immediately preceding clause (a) (1) (utilizing the same prices utilized in the
Company’s year-end reserve report), would be necessary to satisfy fully the obligations of the Company and its Restricted Subsidiaries with respect to Dollar Denominated Production Payments on the schedules specified with respect thereto.

  

 6 

 Whether or not the Company uses the successful efforts method of accounting or the full cost
(or similar method) method of accounting, ACNTA will be calculated as if the Company were using the full cost (or similar method) method of accounting. 

“Adjusted Treasury Rate” means, with respect to any Redemption Date, (i) the yield, under the heading which represents the
average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System
and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no
maturity is within three months before or after September 15, 2014, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or
extrapolated from such yields on a straight line basis, rounding to the nearest month) or (ii) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate
per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date, in each case calculated on the third
Business Day immediately preceding the Redemption Date, plus 0.50%. 
 “Applicable Premium” means, with respect to a
Security at any Redemption Date, the greater of (i) 1.00% of the principal amount of such Security and (ii) the excess of (A) the present value at such Redemption Date of (1) the redemption price of such Security on
September 15, 2014 (such redemption price being described in Section 3.02(c) of this First Supplemental Indenture) plus (2) all required remaining scheduled interest payments due on such Security through September 15, 2014,
computed using a discount rate equal to the Adjusted Treasury Rate, over (B) the principal amount of such Security on such Redemption Date. 

“Appalachian Area” has the meaning assigned to such term in the Marcellus Joint Development Agreement as in effect on the
Marcellus JV Closing Date and as amended or restated thereafter. 
 “Asset Disposition” means any sale, lease,
transfer or other disposition (or series of related sales, leases, transfers or dispositions) by the Company or any Restricted Subsidiary, including any disposition by means of a merger, consolidation or similar transaction (each referred to for the
purposes of this definition as a “disposition”), of: 
 (1) any shares of Capital Stock of a Restricted
Subsidiary (other than directors’ qualifying shares or shares required by applicable law to be held by a Person other than the Company or a Restricted Subsidiary); 

(2) all or substantially all the assets of any division or line of business of the Company or any Restricted Subsidiary;
or 
  

 7 

 (3) any other assets of the Company or any Restricted Subsidiary outside of
the ordinary course of business of the Company or such Restricted Subsidiary (other than, in the case of clauses (1), (2) and (3) above, 

(A) a disposition by a Restricted Subsidiary to the Company or by the Company or a Restricted Subsidiary to a Restricted
Subsidiary; 
 (B) for purposes of Section 4.08 of this First Supplemental Indenture only, (i) a
disposition that constitutes a Restricted Payment (or would constitute a Restricted Payment but for the exclusions from the definition thereof) and that is not prohibited by Section 4.06 of this First Supplemental Indenture and (ii) a
disposition of all or substantially all the assets of the Company in accordance with Section 5.02 of this First Supplemental Indenture; 

(C) a disposition of assets in a single transaction or a series of related transactions with a fair market value of less
than $5.0 million; 
 (D) a disposition of oil, natural gas or other Hydrocarbons or other mineral products in
the ordinary course of business of the oil and gas production operations of the Company and its Subsidiaries; 

(E) the provision of services, equipment and other assets for the operation and development of the Company’s and its
Restricted Subsidiaries’ oil and natural gas wells, in the ordinary course of the Company’s and its Restricted Subsidiaries Oil and Gas Business, notwithstanding that such transactions may be recorded as asset sales in accordance with full
cost accounting guidelines; 
 (F) the sale or other disposition of cash or Temporary Cash Investments; Hedging
Obligations or other financial instruments in the ordinary course of business; 
 (G) the trade or exchange by
the Company or any Restricted Subsidiary of any oil or natural gas property or interest therein of the Company or such Restricted Subsidiary for any oil or natural gas property or interest therein of another Person or for the Capital Stock of a
Person engaged in the Oil and Gas Business, including any cash or cash equivalents necessary in order to achieve an exchange of equivalent value; provided, however, that the value of the oil or natural gas property or interest therein
received by the Company or any Restricted Subsidiary in such trade or exchange (including any cash or cash equivalents) is at least equal to the fair market value (as determined in good faith by the Board of Directors, which determination shall be
conclusive evidence of compliance with this provision) of the oil or natural gas property or interest therein or Capital Stock of a Person engaged in the Oil and Gas Business (including any cash or cash equivalents) so traded or exchanged;
provided, further, that any Net Available Cash is applied pursuant to the requirements of Section 4.08 of this First Supplemental Indenture; 

(H) the creation or perfection of a Lien permitted pursuant to this First Supplemental Indenture and the sale or other
disposition of the property subject to such Lien upon foreclosure thereon; 
  

 8 

 (I) the sale or transfer (whether or not in the ordinary course of business)
of crude oil and natural gas properties or direct or indirect interests in real property; provided, however, that at the time of such sale or transfer such properties do not have associated with them any proved reserves; 

(J) the abandonment, farm-out, lease or sublease of developed or undeveloped crude oil and natural gas properties in the
ordinary course of business; 
 (K) the sale or transfer of surplus or obsolete equipment; 

(L) any assignment of an overriding royalty or net profits interest to an employee or consultant of the Company or any of
its Restricted Subsidiaries in the ordinary course of business in connection with the generation of prospects or the development of oil and natural gas projects; 

(M) dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course
of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements; 
 (N)
the licensing or sublicensing of intellectual property (including without limitation the licensing of seismic data) or other general intangibles and licenses, leases or subleases of other property in the ordinary course of business which do not
materially interfere with the business of the Company and its Restricted Subsidiaries; 
 (O) the surrender or
waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any kind; 

(P) any Production Payments and Reserve Sales; 

(Q) any sale of Capital Stock in, or Indebtedness or other securities of, an Unrestricted Subsidiary; 

(R) the sale, transfer or assignment by the Company, EXCO PA, EXCO WV or any other Restricted Subsidiary of an undivided
interest in Oil and Gas Interests acquired by the Company, EXCO PA, EXCO WV or any other Restricted Subsidiary in the Appalachian Area to the extent required pursuant to and in accordance with the right of first refusal provisions of the Marcellus
JV Documents; and 
 (S) the sale, transfer or assignment by the Company, EOC or any other Restricted Subsidiary
of an undivided interest in Oil and Gas Interests acquired by the Company, EOC or any other Restricted Subsidiary in the East Texas/North Louisiana Area to the extent required pursuant to and in accordance with the right of first refusal provisions
of the BG Joint Development Agreement. 
 “Attributable Debt” in respect of a Sale/Leaseback Transaction means, as at
the time of determination, the present value (discounted at the interest rate borne by the Securities, compounded annually) of the total obligations of the lessee for rental payments during the remaining term of the lease included in such
Sale/Leaseback Transaction (including any period for which such lease has been extended); provided, however, that if such Sale/Leaseback Transaction results in a Capital Lease Obligation, the amount of Indebtedness represented thereby will be
determined in accordance with the definition of “Capital Lease Obligation.” 
  

 9 

 “Average Life” means, as of the date of determination, with respect to any
Indebtedness, the quotient obtained by dividing: (1) the sum of the products of the numbers of years from the date of determination to the dates of each successive scheduled principal payment of or redemption or similar payment with respect to
such Indebtedness multiplied by the amount of such payment by (2) the sum of all such payments. 
 “BGPA” means
BG Production Company (PA), LLC, a Delaware limited liability company and its successors and assigns. 
 “BGWV” means
BG Production Company (WV), LLC, a Delaware limited liability company and its successors and assigns. 
 “BG Development
Costs” means the costs and expenses incurred in the conduct of development operations in the East Texas/North Louisiana Area pursuant to the BG JV Documents. 

“BG Escrow Account” means that certain escrow account maintained at JPMorgan Chase Bank, N.A. and established by EOC and BG
Production for the purpose of maintaining deposits from EOC representing, at any time, the estimated amount of EOC’s share of (x) development and capital costs, plus (y) operating expenses, in each case, as determined in
accordance with the terms of the BG Joint Development Agreement. 
 “BG Gathering” means BG US Gathering Company, LLC,
a Delaware limited liability company, and its successors and assigns. 
 “BG Joint Development Agreement” means that
certain Joint Development Agreement, dated as of August 14, 2009, by and among BG Production, EOC and EXCO Production Company, LP, as amended, supplemented or otherwise modified from time to time, pursuant to which the parties thereto entered
into a joint development agreement to develop and operate certain oil and gas properties located in the East Texas/North Louisiana Area. 

“BG Operating Account” means that certain controlled disbursement operating account maintained at JPMorgan Chase Bank, N.A. and
established by EOC and BG Production for the purpose of funding the costs and expenses associated with the development of the East Texas/North Louisiana Area in accordance with the terms of the BG Joint Development Agreement. 

“BG Production” means BG US Production Company, LLC, a Delaware limited liability company, and its successors and assigns.

 “BG JV Documents” means the BG Joint Development Agreement, the TGGT Holdings LLC Agreement, the TGGT Contribution
Agreement and any other documents, instruments, agreements or certificates contemplated by or executed in connection therewith, in each case, as the same may be amended, modified or supplemented from time to time. 

 

 10 

 “Capital Lease Obligation” means an obligation that is required to be classified
and accounted for as a capital lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with GAAP; and
the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty. For purposes of
Section 4.12 of this First Supplemental Indenture, a Capital Lease Obligation will be deemed to be secured by a Lien on the property being leased. 

“Capital Stock” of any Person means any and all shares, interests (including partnership interests), rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into such equity. 

“Cash Management Obligations” means any obligations of the Company or a Subsidiary Guarantor owed to any lender (or any
affiliate of any such lender) as permitted under the Credit Agreement in respect of treasury management arrangements, depositary or other cash management services, including commercial credit card and merchant card services. 

“Change of Control” means the occurrence of any of the following events: 

(1) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act), other than one or more
Permitted Holders, is or becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that for purposes of this clause (1) such person shall be deemed to have “beneficial ownership” of all shares
that any such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 50% of the total voting power of the Voting Stock of the Company; provided,
however, that the Permitted Holders beneficially own (as defined above), directly or indirectly, in the aggregate a lesser percentage of the total voting power of the Voting Stock of the Company than such other person and do not have the right
or ability by voting power, contract or otherwise to elect or designate for election a majority of the Board of Directors (for purposes of this clause (1), such other person shall be deemed to beneficially own any Voting Stock of a specified person
held by a parent entity, if such other person is the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the voting power of the Voting Stock of such parent entity and the
Permitted Holders beneficially own (as defined in this proviso), directly or indirectly, in the aggregate a lesser percentage of the voting power of the Voting Stock of such parent entity and do not have the right or ability by voting power,
contract or otherwise to elect or designate for election a majority of the board of directors of such parent entity); 

(2) individuals who on the Issue Date constituted the Board of Directors of the Company (together with any new directors
whose election by such Board of Directors of the Company or whose nomination for election by the shareholders of the Company was approved by a vote of a majority of the directors of the Company then still in office who were either directors on the
Issue Date or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Directors of the Company then in office; 

 

 11 

 (3) the adoption of a plan relating to the liquidation or dissolution of the
Company; or 
 (4) the merger or consolidation of the Company with or into another Person or the merger of
another Person with or into the Company, or the sale of all or substantially all the assets of the Company (determined on a consolidated basis) to another Person other than (A) a transaction in which the survivor or transferee is a Person that
is controlled by the Permitted Holders or (B) a transaction following which (i) in the case of a merger or consolidation transaction, holders of securities that represented 100% of the Voting Stock of the Company immediately prior to such
transaction (or other securities into which such securities are converted as part of such merger or consolidation transaction) own directly or indirectly at least a majority of the voting power of the Voting Stock of the surviving Person in such
merger or consolidation transaction immediately after such transaction and (ii) in the case of a sale of assets transaction, each transferee becomes an obligor in respect of the Securities and a Subsidiary of the transferor of such assets.

 “Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Rating Event.

 “Code” means the Internal Revenue Code of 1986, as amended. 

“Company” means the party named as such in this First Supplemental Indenture until a successor replaces it and, thereafter,
means the successor and, for purposes of any provision contained herein and required by the Trust Indenture Act, each other obligor on the Securities. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term from the Redemption Date to September 15, 2014, 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 a
maturity most nearly equal to September 15, 2014. 
 “Comparable Treasury Price” means, with respect to any
Redemption Date, if clause (ii) of the Adjusted Treasury Rate is applicable, the average of three, or such lesser number as is obtained by the Trustee, Reference Treasury Dealer Quotations for such Redemption Date. 

“Consolidated Coverage Ratio” as of any date of determination means the ratio of 

(1) the aggregate amount of EBITDA for the period of the most recent four consecutive fiscal quarters ending at least 40
days prior to the date of such determination to 
 (2) Consolidated Interest Expense for such four fiscal
quarters; 
 provided, however, that 

 

 12 

 (A) if the Company or any Restricted Subsidiary has Incurred any
Indebtedness since the beginning of such period that remains outstanding or if the transaction giving rise to the need to calculate the Consolidated Coverage Ratio is an Incurrence of Indebtedness, or both, EBITDA and Consolidated Interest Expense
for such period shall be calculated after giving effect on a pro forma basis to such Indebtedness as if such Indebtedness had been Incurred on the first day of such period; 

(B) if the Company or any Restricted Subsidiary has repaid, repurchased, defeased or otherwise discharged any Indebtedness
since the beginning of such period or if any Indebtedness is to be repaid, repurchased, defeased or otherwise discharged (in each case other than Indebtedness Incurred under any revolving credit facility unless such Indebtedness has been permanently
repaid and has not been replaced) on the date of the transaction giving rise to the need to calculate the Consolidated Coverage Ratio, EBITDA and Consolidated Interest Expense for such period shall be calculated on a pro forma basis as if
such discharge had occurred on the first day of such period and as if the Company or such Restricted Subsidiary has not earned the interest income actually earned during such period in respect of cash or Temporary Cash Investments used to repay,
repurchase, defease or otherwise discharge such Indebtedness; 
 (C) if since the beginning of such period the
Company or any Restricted Subsidiary shall have made any Asset Disposition, EBITDA for such period shall be reduced by an amount equal to EBITDA (if positive) directly attributable to the assets which are the subject of such Asset Disposition for
such period, or increased by an amount equal to EBITDA (if negative), directly attributable thereto for such period and Consolidated Interest Expense for such period shall be reduced by an amount equal to the Consolidated Interest Expense directly
attributable to any Indebtedness of the Company or any Restricted Subsidiary repaid, repurchased, defeased or otherwise discharged with respect to the Company and the continuing Restricted Subsidiaries in connection with such Asset Disposition for
such period (or, if the Capital Stock of any Restricted Subsidiary is sold, the Consolidated Interest Expense for such period directly attributable to the Indebtedness of such Restricted Subsidiary to the extent the Company and the continuing
Restricted Subsidiaries are no longer liable for such Indebtedness after such sale); 
 (D) if since the
beginning of such period the Company or any Restricted Subsidiary (by merger or otherwise) shall have made an Investment in any Restricted Subsidiary (or any Person which becomes a Restricted Subsidiary) or an acquisition, including any acquisition
of assets occurring in connection with a transaction requiring a calculation to be made, which constitutes all or substantially all of an operating unit of a business, EBITDA and Consolidated Interest Expense for such period shall be calculated
after giving pro forma effect thereto (including the Incurrence of any Indebtedness) as if such Investment or acquisition occurred on the first day of such period; 

(E) if since the beginning of such period any Person (that subsequently became a Restricted Subsidiary or was merged with
or into the Company or any Restricted Subsidiary since the beginning of such period) shall have made any Asset Disposition, any Investment or acquisition of assets that would have required an adjustment pursuant to clause (C) or (D) above
if made by the Company or a Restricted Subsidiary during such period, EBITDA and Consolidated Interest Expense for such period shall be calculated after giving pro forma effect thereto as if such Asset Disposition, Investment or acquisition
occurred on the first day of such period; and 
  

 13 

 (F) interest income reasonably anticipated by such Person to be received
during the applicable four-quarter period from cash or Temporary Cash Investments held by such Person or any Restricted Subsidiary of such Person, which cash or Temporary Cash Investments exist on the date of determination or will exist as a result
of the transaction giving rise to the need to calculate the Consolidated Coverage Ratio, will be included. 
 For purposes of this definition,
whenever pro forma effect is to be given to an acquisition of assets, the amount of income or earnings relating thereto and the amount of Consolidated Interest Expense associated with any Indebtedness Incurred in connection therewith, the
pro forma calculations shall be determined in good faith by a responsible financial or accounting Officer of the Company. If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such
Indebtedness shall be calculated as if the rate in effect on the date of determination had been the applicable rate for the entire period (taking into account any Interest Rate Agreement applicable to such Indebtedness, but if the remaining term of
such Interest Rate Agreement is less than 12 months, then such Interest Rate Agreement shall only be taken into account for that portion of the period equal to the remaining term thereof). 

If any Indebtedness is incurred under a revolving credit facility and is being given pro forma effect, the interest on such
Indebtedness shall be calculated based on the average daily balance of such Indebtedness for the four fiscal quarters subject to the pro forma calculation to the extent that such Indebtedness was incurred solely for working capital purposes.

 “Consolidated Interest Expense” means, for any period, the total interest expense of the Company and the
consolidated Restricted Subsidiaries, plus, to the extent not included in such total interest expense, and to the extent incurred by the Company or the Restricted Subsidiaries, without duplication, 

(1) interest expense attributable to Capital Lease Obligations; 

(2) amortization of debt discount and debt issuance cost; 

(3) capitalized interest; 

(4) non-cash interest expense; 

(5) commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance
financing; 
 (6) net payments pursuant to Currency Agreements and Interest Rate Agreements; 

 

 14 

 (7) dividends accrued in respect of all Preferred Stock held by Persons
other than the Company or a Wholly Owned Subsidiary (other than dividends payable solely in Capital Stock (other than Disqualified Stock) of the Company); 

(8) interest incurred in connection with Investments in discontinued operations; 

(9) interest actually paid by the Company or any such Restricted Subsidiary under any Guarantee of Indebtedness or other
obligation of any Person; and 
 (10) the cash contributions to any employee stock ownership plan or similar
trust to the extent such contributions are used by such plan or trust to pay interest or fees to any Person (other than the Company) in connection with Indebtedness Incurred by such plan or trust. 

Notwithstanding the foregoing, there shall be excluded from Consolidated Interest Expense (A) Consolidated Interest Expense with respect to any
Production Payments to the extent such Production Payments are excluded from the definition of “Indebtedness” and (B) noncash interest expense Incurred in connection with interest rate caps and other interest rate and currency options
that, at the time entered into, resulted in the Company and its Restricted Subsidiaries being either neutral or net payors as to future payouts under such caps or options. 

“Consolidated Net Income” means, for any period, the net income of the Company and its consolidated Subsidiaries; provided,
however, that there shall not be included in such Consolidated Net Income the following items, in each case adjusted for income taxes, using the Company’s estimated income tax rate for the applicable period, attributable to such items
excluded from Consolidated Net Income: 
 (1) any net income of any Person (other than the Company) if such
Person is not a Restricted Subsidiary, except that 
 (A) subject to the exclusion contained in clause
(5) below, the Company’s equity in the net income of any such Person for such period shall be included in such Consolidated Net Income up to the aggregate amount of cash actually distributed by such Person during such period to the Company
or a Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend or other distribution paid to a Restricted Subsidiary, to the limitations contained in clause (3) below); and 

(B) the Company’s equity in a net loss of any such Person for such period shall be included in determining such
Consolidated Net Income; 
 (2) any net income (or loss) of any Person acquired by the Company or a Subsidiary in
a pooling of interests transaction (or any transaction accounted for in a manner similar to a pooling of interests) for any period prior to the date of such acquisition; 
  

 15 

 (3) any net income of any Restricted Subsidiary if such Restricted
Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the making of distributions by such Restricted Subsidiary, directly or indirectly, to the Company, except that 

(A) subject to the exclusion contained in clause (5) below, the Company’s equity in the net income of any such
Restricted Subsidiary for such period shall be included in such Consolidated Net Income up to the aggregate amount of cash actually distributed (or, if greater, for purposes of calculation of the Consolidated Coverage Ratio only, permitted at the
date of determination to be distributed) by such Restricted Subsidiary during such period to the Company or another Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend or other distribution paid to another
Restricted Subsidiary, to the limitation contained in this clause); and 
 (B) the Company’s equity in a net
loss of any such Restricted Subsidiary for such period shall be included in determining such Consolidated Net Income; 

(4) any gain (or loss) realized upon the sale or other disposition of any assets of the Company, its consolidated
Subsidiaries or any other Person (including pursuant to any sale-and-leaseback arrangement) which are not sold or otherwise disposed of in the ordinary course of business and any gain (or loss) realized upon the sale or other disposition of any
Capital Stock of any Person; 
 (5) any impairment losses on oil and natural gas properties; 

(6) extraordinary gains or losses; 

(7) any unrealized non cash gains or losses or charges in respect of Hedging Obligations (including those resulting from
the application of ASC815); 
 (8) any non cash compensation charge arising from any grant of stock, stock
options or other equity based awards; 
 (9) any income from assets or businesses classified as discontinued
operations; 
 (10) the cumulative effect of a change in accounting principles; and 

(11) to the extent deducted in the calculation of Consolidated Net Income, any non-cash or nonrecurring charges relating
to any premium or penalty paid, write-off of deferred financing costs or other financial recapitalization charges in connection with redeeming or retiring any Indebtedness prior to its Stated Maturity will be excluded; 

in each case, for such period. Notwithstanding the foregoing, for the purpose of Section 4.06 of this First Supplemental Indenture only (but not the
calculation of the Consolidated Coverage Ratio for purposes of determining compliance with such covenant), there shall be excluded from Consolidated Net Income any repurchases, repayments or redemptions of Investments, proceeds realized on the sale
of Investments or return of capital to the Company or a Restricted Subsidiary to the extent such repurchases, repayments, redemptions, proceeds or returns increase the amount of Restricted Payments permitted under such Section pursuant to
Section 4.06(a)(3)(D) of this First Supplemental Indenture. 
  

 16 

 “Consolidated Net Worth” means the total of the amounts shown on the balance sheet
of the Company and its consolidated Restricted Subsidiaries determined on a consolidated basis in accordance with GAAP as of the end of the most recent fiscal quarter for which internal financial statements are available prior to the taking of any
action for the purpose of which the determination is being made, as the sum of: 
 (1) the par or stated value of all the
Company’s outstanding Capital Stock, plus 
 (2) paid-in capital and capital surplus relating to such Capital Stock,
plus 
 (3) any retained earrings or earned surplus less (A) any accumulated deficit, and (B) any
amounts attributable to Disqualified Stock. 
 “Credit Agreement” means the Credit Agreement, dated as of
April 30, 2010 by and among the Company, as borrower, certain of its subsidiaries, as guarantors, JPMorgan Chase Bank, N.A., as administrative agent, J.P. Morgan Securities LLC, as sole bookrunner and co-lead arranger, Wells Fargo Securities,
LLC, as co-lead arranger, Bank of America, N.A. and BNP Paribas, as co-lead arrangers and co-syndication agents, Royal Bank of Canada, as co-lead arranger and co-documentation agent, Wells Fargo Bank, National Association, as co-documentation agent,
and the lenders named therein, together with the related documents thereto (including the term loans and revolving loans thereunder, any guarantees and security documents), as amended, extended, renewed, restated, supplemented or otherwise modified
(in whole or in part, and without limitation as to amount, terms, conditions, covenants and other provisions, including increasing the amount of available borrowings thereunder or adding Subsidiaries of the Company as additional borrowers or
guarantors thereunder) from time to time, and any agreement (and related document) governing Indebtedness incurred to Refinance but without limitation as to borrowers or guarantors, in whole or in part, the borrowings and commitments then
outstanding or permitted to be outstanding under such Credit Agreement or a successor Credit Agreement, whether by the same or any other lender or group of lenders. 

“Credit Facilities” means with respect to the Company or any Restricted Subsidiary, one or more debt facilities (including the
Credit Agreement), or commercial paper facilities with banks, investment banks, insurance companies, mutual or other institutional lenders or investors providing for revolving credit loans, term loans, production payments, receivables financing
(including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or letters of credit, in each case, as amended, restated, modified, renewed, refunded, replaced or
refinanced in whole or in part from time to time. 
 “Currency Agreement” means any foreign exchange contract,
currency swap agreement or other similar agreement with respect to currency values. 
  

 17 

 “Default” means any event which is, or after notice or passage of time or both
would be, an Event of Default. 
 “De Minimis Guaranteed Amount” means a principal amount of Indebtedness that does
not exceed $5.0 million. 
 “Disqualified Stock” means, with respect to any Person, any Capital Stock which by its
terms (or by the terms of any security into which it is convertible or for which it is exchangeable at the option of the holder) or upon the happening of any event: 

(1) matures or is mandatorily redeemable (other than redeemable only for Capital Stock of such Person which is not itself
Disqualified Stock) pursuant to a sinking fund obligation or otherwise; 
 (2) is convertible or exchangeable at
the option of the holder for Indebtedness or Disqualified Stock; or 
 (3) is mandatorily redeemable or must be
purchased upon the occurrence of certain events or otherwise, in whole or in part; 
 in each case on or prior to the 91st day after the Stated
Maturity of the Securities; provided, however, that any Capital Stock that would not constitute Disqualified Stock but for provisions thereof giving holders thereof the right to require such Person to purchase or redeem such Capital Stock
upon the occurrence of an “asset sale” or “change of control” occurring prior to the 91st day after the Stated Maturity of the Securities shall not constitute Disqualified Stock if (A) the “asset sale” or
“change of control” provisions applicable to such Capital Stock are not more favorable to the holders of such Capital Stock than the terms applicable to the Securities in Sections 4.08 and 4.11 of this First Supplemental Indenture and
(B) any such requirement only becomes operative after compliance with such terms applicable to the Securities, including the purchase of any Securities tendered pursuant thereto. 

The amount of any Disqualified Stock that does not have a fixed redemption, repayment or repurchase price will be calculated in
accordance with the terms of such Disqualified Stock as if such Disqualified Stock were redeemed, repaid or repurchased on any date on which the amount of such Disqualified Stock is to be determined pursuant to the Indenture; provided,
however, that if such Disqualified Stock could not be required to be redeemed, repaid or repurchased at the time of such determination, the redemption, repayment or repurchase price will be the book value of such Disqualified Stock as reflected
in the most recent financial statements of such Person. 
 “Dollar Denominated Production Payments” means production
payment obligations recorded as liabilities in accordance with GAAP, together with all undertakings and obligations in connection therewith. 

“DTC” means The Depository Trust Company, its nominees and their respective successors and assigns, or such other depository
institution hereinafter appointed by the Company. 
  

 18 

 “East Texas/North Louisiana Area” has the meaning assigned to such term in the BG
Joint Development Agreement as in effect on the Issue Date and as amended or restated thereafter. 
 “EBITDA” for any
period means the sum of Consolidated Net Income, plus the following to the extent deducted in calculating such Consolidated Net Income: 

(1) all income tax expense of the Company and the consolidated Restricted Subsidiaries; 

(2) Consolidated Interest Expense; 

(3) depreciation, depletion, exploration and amortization expense of the Company and the consolidated Restricted
Subsidiaries (excluding amortization of expenses attributable to a prepaid operating activity item that was paid in cash in a prior period); 

(4) all other non-cash charges of the Company and the consolidated Restricted Subsidiaries (excluding any such non-cash
charge to the extent that it represents an accrual of or reserve for cash expenditures in any future period other than non-cash charges resulting from the application of Financial Accounting Standards Board Accounting Standards Codification Subtopic
410-20 for Asset Retirement Obligations); and 
 (5) unrealized foreign exchange losses; 

in each case for such period, and less, to the extent included in calculating such Consolidated Net Income and in excess of any costs or expenses
attributable thereto and deducted in calculating such Consolidated Net Income, the sum of: 
 (A) the amount of
deferred revenues that are amortized during such period and are attributable to reserves that are subject to Volumetric Production Payments; and 

(B) amounts recorded in accordance with GAAP as repayments of principal and interest pursuant to Dollar Denominated
Production Payments. 
 Notwithstanding the foregoing, the provision for taxes based on the income or profits of, and the
depreciation and amortization and non-cash charges of, a Restricted Subsidiary shall be added to Consolidated Net Income to compute EBITDA only to the extent (and in the same proportion, including by reason of minority interests) that the net income
or loss of such Restricted Subsidiary was included in calculating Consolidated Net Income and only if a corresponding amount would be permitted at the date of determination to be dividended to the Company by such Restricted Subsidiary without prior
approval (that has not been obtained), pursuant to the terms of its charter and all agreements, instruments, judgments, decrees, orders, statutes, rules and governmental regulations applicable to such Restricted Subsidiary or its stockholders.

  

 19 

 “EOC” means EXCO Operating Company, LP, a Delaware limited partnership and its
successors and permitted assigns. 
 “Equity Offering” means a public or private sale of common stock of the Company
(other than to the Company or a Subsidiary of the Company) or any contribution to the common equity capital of the Company. 

“EXCO PA” means EXCO Production Company (PA), LLC, a Pennsylvanian limited liability company, and its successors and assigns.

 “EXCO Water” means EXCO Water Resources, LLC, a Delaware limited liability company, and its successors and assigns.

 “EXCO WV” means EXCO Production Company (WV), LLC, a West Virginian limited liability company, and its successors
and assigns. 
 “Farm-In Agreement” means an agreement whereby a Person agrees to pay all or a share of the drilling,
completion or other expenses of an exploratory or development well (which agreement may be subject to a maximum payment obligation, after which expenses are shared in accordance with the working or participation interest therein or in accordance
with the agreement of the parties) or perform the drilling, completion or other operation on such well in exchange for an ownership interest in an oil or gas property. 

“Farm-Out Agreement” means a Farm-In Agreement, viewed from the standpoint of the party that transfers an ownership interest to
another. 
 “Foreign Subsidiary” means any Restricted Subsidiary of the Company that is not organized under the laws
of the United States or any State thereof or the District of Columbia. 
 “Guarantee” means any obligation, contingent
or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness of any Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 

(1) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such Person (whether arising by
virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take-or-pay or to maintain financial statement conditions or otherwise); or 

(2) entered into for the purpose of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect
such obligee against loss in respect thereof (in whole or in part); 
 provided, however, that the term “Guarantee” shall not
include endorsements for collection or deposit in the ordinary course of business. The term “Guarantee” used as a verb has a corresponding meaning. The term “Guarantor” shall mean any Person Guaranteeing any obligation.

  

 20 

 “Guaranty Agreement” means a supplemental indenture, in a form satisfactory to the
Trustee, pursuant to which a Subsidiary Guarantor guarantees the Company’s obligations with respect to the Securities on the terms provided for in the Indenture. 

“Hedging Obligations” of any Person means the obligations of such Person pursuant to any Oil and Natural Gas Hedging Contract,
Interest Rate Agreement or Currency Agreement. 
 “Hydrocarbons” means all crude oil and condensate and Natural Gas
produced from or attributable to the Oil and Gas Interests of the Company and each Subsidiary Guarantor. 
 “Incur”
means issue, assume, Guarantee, incur or otherwise become liable for; provided, however, that any Indebtedness of a Person existing at the time such Person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or
otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Restricted Subsidiary. Notwithstanding the foregoing proviso, any Indebtedness that is extinguished, retired or repaid in connection with a Person merging with or
becoming a Subsidiary of a Restricted Subsidiary will not be deemed to be the Incurrence of Indebtedness. The term “Incurrence” when used as a noun shall have a correlative meaning. 

Solely for purposes of determining compliance with Section 4.05 of this First Supplemental Indenture: 

(1) amortization of debt discount or the accretion of principal with respect to a non-interest bearing or other discount
security; 
 (2) the payment of regularly scheduled interest in the form of additional Indebtedness of the same
instrument or the payment of regularly scheduled dividends on Capital Stock in the form of additional Capital Stock of the same class and with the same terms; 

(3) the obligation to pay a premium in respect of Indebtedness arising in connection with the issuance of a notice of
redemption or making of a mandatory offer to purchase such Indebtedness; and 
 (4) unrealized losses or charges
in respect of Hedging Obligations (including those resulting from the application of ASC815); 
 will not be deemed to be the Incurrence of
Indebtedness. 
 “Indebtedness” means, with respect to any Person on any date of determination (without duplication):

 (1) the principal in respect of (A) indebtedness of such Person for money borrowed and
(B) indebtedness evidenced by notes, debentures, bonds or other similar instruments for the payment of which such Person is responsible or liable, including, in each case, any premium on such indebtedness to the extent such premium has become
due and payable; 
  

 21 

 (2) all Capital Lease Obligations of such Person and all Attributable Debt
in respect of Sale/Leaseback Transactions entered into by such Person; 
 (3) all obligations of such Person
issued or assumed as the deferred purchase price of property, all conditional sale obligations of such Person and all obligations of such Person under any title retention agreement (but excluding trade accounts payable arising in the ordinary course
of business); 
 (4) all obligations of such Person for the reimbursement of any obligor on any letter of credit,
bankers’ acceptance or similar credit transaction (other than obligations with respect to letters of credit securing obligations (other than obligations described in clauses (1) through (3) above) entered into in the ordinary course
of business of such Person to the extent such letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the tenth Business Day following payment on the letter of credit); 

(5) the amount of all obligations of such Person with respect to the redemption, repayment or other repurchase of any
Disqualified Stock of such Person or, with respect to any Subsidiary of such Person, the amount of all obligations of such Subsidiary with respect to any Preferred Stock of such Subsidiary, the principal amount of such Disqualified Stock or
Preferred Stock to be determined in accordance with this First Supplemental Indenture; 
 (6) all obligations of
the type referred to in clauses (1) through (5) above of other Persons and all dividends of other Persons for the payment of which, in either case, such Person is responsible or liable, directly or indirectly, as obligor, guarantor or
otherwise, including by means of any Guarantee; 
 (7) all obligations of the type referred to in clauses
(1) through (6) above of other Persons secured by any Lien on any property or asset of such Person (whether or not such obligation is assumed by such Person), the amount of such obligation being deemed to be the lesser of the value of such
property or assets and the amount of the obligation so secured; 
 (8) to the extent not otherwise included in
this definition, Hedging Obligations of such Person; and 
 (9) any Guarantee by such Person of production or
payment with respect to a Production Payment. 
 Except as expressly provided in clause (9) above, Production Payments and Reserve Sales
shall not constitute “Indebtedness.” 
 Notwithstanding the foregoing, in connection with the purchase by the Company or any
Restricted Subsidiary of any business or assets, the term “Indebtedness” will exclude post-closing payment adjustments to which the seller may become entitled to the extent such payment is determined by a final closing balance sheet or
such payment depends on the performance of such business or assets after the closing; provided, however, that, at the time of closing, the amount of any such payment is not determinable and, to the extent such payment thereafter becomes fixed
and determined, the amount is paid within 30 days thereafter. 
  

 22 

 The amount of Indebtedness of any Person at any date shall be the outstanding balance at
such date of all obligations as described above; provided, however, that in the case of Indebtedness sold at a discount, the amount of such Indebtedness at any time will be the accreted value thereof at such time. 

“Independent Qualified Party” means an investment banking firm, accounting firm or appraisal firm of national standing;
provided, however, that such firm is not an Affiliate of the Company. 
 “Interest Rate Agreement” means any
interest rate swap agreement, interest rate cap agreement or other financial agreement or arrangement with respect to exposure to interest rates. 

“Investment” in any Person means any direct or indirect advance, loan (other than advances to customers in the ordinary course
of business that are recorded as accounts receivable on the balance sheet of the lender) or other extensions of credit (including by way of Guarantee or similar arrangement) or capital contribution to (by means of any transfer of cash or other
property to others or any payment for property or services for the account or use of others), or any purchase or acquisition of Capital Stock, Indebtedness or other similar instruments issued by such Person. If the Company or any Restricted
Subsidiary issues, sells or otherwise disposes of any Capital Stock of a Person that is a Restricted Subsidiary such that, after giving effect thereto, such Person is no longer a Restricted Subsidiary, the Company or any Restricted Subsidiary shall
be deemed to have made an Investment on the date of such issuance, sale or other disposition equal to the fair market value of the Capital Stock of such Restricted Subsidiary not sold or disposed of or, if less, the value of the Investment when made
by the Company or such Restricted Subsidiary in the portion of such Person represented by such Capital Stock. The acquisition by the Company or any Restricted Subsidiary of a Person that holds an Investment in a third Person will be deemed to be an
Investment by the Company or such Restricted Subsidiary in such third Person at such time. Except as otherwise provided for herein, the amount of an Investment shall be its fair market value at the time the Investment is made and without giving
effect to subsequent changes in value. 
 For purposes of the definition of “Unrestricted Subsidiary”, the definition
of “Restricted Payment” and Section 4.06 of this First Supplemental Indenture: 
 (1)
“Investment” shall include the portion (proportionate to the Company’s equity interest in such Subsidiary) of the fair market value of the net assets of any Subsidiary of the Company at the time that such Subsidiary is designated an
Unrestricted Subsidiary; and 
 (2) any property transferred to or from an Unrestricted Subsidiary shall be
valued at its fair market value at the time of such transfer, in each case as determined in good faith by the Board of Directors. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s, or BBB (or the
equivalent) by Standard & Poor’s, or, if neither Moody’s nor Standard & Poor’s provide credit ratings of debt securities, the equivalent investment grade rate from any other Rating Agency. 

 

 23 

 “IPC Water Supply Agreement” means that certain Agreement for Water Supply, dated
effective as of March 1, 2010, between International Paper Company and EXCO Water, as amended, restated, supplemented or otherwise modified from time to time. 

“Issue Date” means September 15, 2010. 

“Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions are not required to be open in the State of
New York. 
 “Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind (including
any conditional sale or other title retention agreement or lease in the nature thereof). 
 “Marcellus Development
Costs” means the costs and expenses incurred in the conduct of development operations in the Appalachian Area pursuant to the Marcellus JV Documents. 

“Marcellus Holding Companies” BG Production Company (PA), LLC and BG Production Company (WV), LLC, each a wholly owned
subsidiary of the Marcellus JV Partner and each formed in connection with the Marcellus Joint Development Agreement to facilitate the transfer of an undivided 49.75% interest in the Marcellus JV Oil and Gas Assets to the Marcellus JV Partner.

 “Marcellus Joint Development Agreement” means that certain Joint Development Agreement dated as of June 1,
2010, among BGPA, BGWV, the Marcellus Holding Companies and the Marcellus JV Operator to develop and operate the Marcellus JV Oil and Gas Assets with respect to the Marcellus Joint Venture; as such Joint Development Agreement may thereafter be
amended, supplemented or otherwise modified from time to time. 
 “Marcellus JV Closing Date” means June 1, 2010.

 “Marcellus JV Documents” means the Marcellus Joint Development Agreement, the Marcellus Operator LLC Agreement, the
Marcellus Midstream LLC Agreement, the Marcellus Transfer Agreement and any other documents, instruments, agreements or certificates contemplated by, or executed in connection with, the Marcellus Joint Development Agreement, in each case, as the
same may be amended, modified or supplemented from time to time. 
 “Marcellus JV Oil and Gas Assets” has the meaning
assigned to the term “Subject Oil and Gas Assets” in the Marcellus Joint Development Agreement. 
 “Marcellus JV
Operator” means EXCO Resources (PA), LLC, a Delaware limited liability company, and its successors and assigns, the operator of the Marcellus JV Oil and Gas Assets located in the Appalachian Area. 

“Marcellus JV Partner” means BG US Production Company, LLC , a Delaware limited liability company. 

 

 24 

 “Marcellus Midstream Assets” means the gas gathering and pipeline systems and
related facilities associated with the Marcellus Shale portion of the Marcellus JV Oil and Gas Assets. 
 “Marcellus
Midstream LLC Agreement” means that certain Second Amended and Restated Limited Liability Company Agreement of Marcellus Midstream Owner, dated as of June 1, 2010, as such Limited Liability Company Agreement may thereafter be amended,
supplemented or otherwise modified from time to time. 
 “Marcellus Midstream Owner” means Appalachia Midstream, LLC,
owner of the Marcellus Midstream Assets. 
 “Marcellus Operator LLC Agreement” means that certain Amended and Restated
Limited Liability Company Agreement of the Marcellus JV Operator; dated as of June 1, 2010, as such may thereafter be amended, supplemented or otherwise modified from time to time. 

“Marcellus Shale” means (a) with respect to the Commonwealth of Pennsylvania, those subsurface depths that are below the
base of (but excluding) the Haskill Sandstone Formation (Base of Elk Sequence) formation at a measured depth of 2,758’, as identified by the Litho Density Compensated Neutron Array Induction Temperature Log dated June 7, 2005 of the Seneca
Resources operated Fee PGS SGL No. 44 (API 37-047-23649) located in Elk County, Pennsylvania, (b) with respect to the State of West Virginia, those subsurface depths that are below the base of (but excluding) the Brallier Formation (Base
of Elk Sequence) formation at a measured depth of 6,612’, as identified by the Litho Density Compensated Neutron Array Induction Temperature Log dated October 8, 2008 of the EXCO—North Coast Energy, Inc. operated Wentz 4HS (API
47-001-02982) located in Barbour County, West Virginia, recognizing that actual depths may vary, and (c) with respect to the State of New York, those subsurface depths that are below the base of (but excluding) the Genesee Formation at a
measured depth of 2,548’, as identified by the Density/Neutron, Gamma/Temperature Log dated May 6, 2005 of the Fortuna Energy, Inc. operated Cotton-Hanlon #1 well (API 31-107-23185) located in Tioga County, New York. 

“Marcellus Transfer Agreement” means that certain Membership Interest Transfer Agreement dated as of May 9, 2010, by an
between EXCO Holding (PA), Inc. and the Marcellus JV Partner pursuant to which EXCO Holding (PA), Inc. transferred to the Marcellus JV Partner (a) 100% of the equity interests of the Marcellus Holding Companies and (b) 50% of the equity
interests of each of the Marcellus JV Operator and the Marcellus Midstream Owner. 
 “Moody’s” means Moody’s
Investors Service, Inc. and any successor to its rating agency business. 
 “Natural Gas” means all natural gas,
distillate or sulphur, natural gas liquids and all products recovered in the processing of natural gas (other than condensate) including, without limitation, natural gasoline, coalbed methane gas, casinghead gas, iso-butane, normal butane, propane
and ethane (including such methane allowable in commercial ethane). 
  

 25 

 “Net Available Cash” from an Asset Disposition means cash payments received
therefrom, including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and cash proceeds from the sale or other disposition of any non-cash consideration received as
consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties, in each case net of (without
duplication): 
 (1) all legal, title and recording tax expenses, commissions and other fees and expenses
incurred, including without limitation, all attorney’s fees, accountants’ fees, advisors’ or other consultants’ fees and other fees actually incurred in connection therewith, and all Federal, state, provincial, foreign and local
taxes required to be accrued as a liability under GAAP, as a consequence of such Asset Disposition; 
 (2) all
payments made on any Indebtedness which is secured by any assets subject to such Asset Disposition, in accordance with the terms of any Lien upon or other security agreement of any kind with respect to such assets, or which must by its terms, or in
order to obtain a necessary consent to such Asset Disposition, or by applicable law, be repaid out of the proceeds from such Asset Disposition; 

(3) all distributions and other payments required to be made to minority interest holders in Restricted Subsidiaries as a
result of such Asset Disposition; 
 (4) the deduction of appropriate amounts provided by the seller as a
reserve, in accordance with GAAP, against any liabilities associated with the property or other assets disposed in such Asset Disposition and retained by the Company or any Restricted Subsidiary after such Asset Disposition; and 

(5) any portion of the purchase price from an Asset Disposition placed in escrow, whether as a reserve for adjustment of
the purchase price, for satisfaction of indemnities in respect of such Asset Disposition or otherwise in connection with that Asset Disposition; provided, however, that upon the termination of that escrow, Net Available Cash will be increased
by any portion of funds in the escrow that are released to the Company or any Restricted Subsidiary. 
 “Net Cash
Proceeds”, with respect to any issuance or sale of Capital Stock or Indebtedness, means the cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, discounts
or commissions and brokerage, consultant and other fees actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof. 

“Net Working Capital” of the Company means: 

(1) all current assets of the Company and its Restricted Subsidiaries, except current assets from commodity price risk
management activities arising in the ordinary course of business; minus 
 (2) all current liabilities of the
Company and its Restricted Subsidiaries, except current liabilities included in Indebtedness and current liabilities from commodity price risk management activities arising in the ordinary course of business, determined in accordance with GAAP.

  

 26 

 “Non-Recourse Purchase Money Indebtedness” means Indebtedness (other than Capital
Lease Obligations) of the Company or any Subsidiary Guarantor incurred in connection with the acquisition by the Company or such Subsidiary Guarantor in the ordinary course of business of fixed assets used in the Oil and Gas Business (including
office buildings and other real property used by the Company or such Subsidiary Guarantor in conducting its operations) with respect to which: 

(1) the holders of such Indebtedness agree that they will look solely to the fixed assets so acquired which secure such
Indebtedness, and neither the Company nor any Restricted Subsidiary (a) is directly or indirectly liable for such Indebtedness or (b) provides credit support, including any undertaking, Guarantee, agreement or instrument that would
constitute Indebtedness (other than the grant of a Lien on such acquired fixed assets); and 
 (2) no default or
event of default with respect to such Indebtedness would cause, or permit (after notice or passage of time or otherwise), any holder of any other Indebtedness of the Company or a Subsidiary Guarantor to declare a default or event of default on such
other Indebtedness or cause the payment, repurchase, redemption, defeasance or other acquisition or retirement for value thereof to be accelerated or payable prior to any scheduled principal payment, scheduled sinking fund payment or maturity.

 “Obligations” means, with respect to any Indebtedness, all obligations for principal, premium, interest, penalties,
fees, indemnifications, reimbursements, and other amounts payable pursuant to the documentation governing such Indebtedness. 

“Oil and Gas Business” means: 

(1) the acquisition, exploration, exploitation, development, operation and disposition of interests in oil, natural gas,
other hydrocarbon and mineral properties; 
 (2) the gathering, marketing, distribution, treating, processing,
storage, refining, selling and transporting of any production from such interests or properties and the marketing of oil, natural gas, other hydrocarbons and minerals obtained from unrelated Persons; 

(3) any business relating to or arising from exploration for or exploitation, development, production, treatment,
processing, storage, refining, transportation, gathering or marketing of oil, natural gas, other hydrocarbons and minerals and products produced in association therewith; 

(4) any other related energy business, including power generation and electrical transmission business where fuel required
by such business is supplied, directly or indirectly, from oil, natural gas, other hydrocarbons and minerals produced substantially from properties in which the Company or the Restricted Subsidiaries, directly or indirectly, participate; 

(5) any business relating to oil field sales and service; and 

 

 27 

 (6) any activity necessary, appropriate or incidental to the activities
described in the preceding clauses (1) through (5) of this definition. 
 “Oil and Gas Interest(s)” means:
(a) direct and indirect interests in and rights with respect to oil, gas, mineral and related properties and assets of any kind and nature, direct or indirect, including, without limitation, wellbore interests, working, royalty and overriding
royalty interests, mineral interests, leasehold interests, production payments, operating rights, net profits interests, other non-working interests, contractual interests, non-operating interests and rights in any pooled, unitized or communitized
acreage by virtue of such interest being a part thereof; (b) interests in and rights with respect to Hydrocarbons other minerals or revenues therefrom and contracts and agreements in connection therewith and claims and rights thereto (including
oil and gas leases, operating agreements, unitization, communitization and pooling agreements and orders, division orders, transfer orders, mineral deeds, royalty deeds, oil and gas sales, exchange and processing contracts and agreements and, in
each case, interests thereunder), and surface interests, fee interests, reversionary interests, reservations and concessions related to any of the foregoing; (c) easements, rights-of-way, licenses, permits, leases, and other interests
associated with, appurtenant to, or necessary for the operation of any of the foregoing; (d) interests in oil, gas, water, disposal and injection wells, equipment and machinery (including well equipment and machinery), oil and gas production,
gathering, transmission, compression, treating, processing and storage facilities (including tanks, tank batteries, pipelines and gathering systems), pumps, water plants, electric plants, gasoline and gas processing plants, refineries and other
tangible or intangible, movable or immovable, real or personal property and fixtures located on, associated with, appurtenant to, or necessary for the operation of any of the foregoing; and (e) all seismic, geological, geophysical and
engineering records, data, information, maps, licenses and interpretations. 
 “Oil and Natural Gas Hedging Contract”
means any oil and natural gas hedging agreement and other agreement or arrangement designed to protect the Company or any Restricted Subsidiary against fluctuations in oil and natural gas prices. 

“Permitted Acquisition Indebtedness” means Indebtedness or Disqualified Stock of the Company or any of its Restricted
Subsidiaries to the extent such Indebtedness or Disqualified Stock was Indebtedness or Disqualified Stock Incurred for the purpose of financing all or any part of the cost of acquiring oil and gas properties or was Indebtedness of: 

(1) a Subsidiary prior to the date on which such Subsidiary became a Restricted Subsidiary, or 

(2) a Person that was merged or amalgamated into the Company or a Restricted Subsidiary; 

provided that on the date such Indebtedness was incurred, the Subsidiary became a Restricted Subsidiary or the date such Person was merged and
amalgamated into the Company or a Restricted Subsidiary, as applicable, after giving pro forma effect thereto, the Consolidated Coverage Ratio either (x) equals or exceeds 2.25 to 1.0 or (y) is greater than the Consolidated Coverage
Ratio immediately prior to such transaction. 
  

 28 

 “Permitted Business Investments” means Investments and expenditures made in the
ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business as means of actively exploiting, exploring for, acquiring, developing, processing, gathering, marketing or transporting oil, natural gas, other
hydrocarbons and minerals through agreements, transactions, interests or arrangements that permit one to share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the
conduct of the Oil and Gas Business jointly with third parties, including: 
 (1) ownership interests in oil,
natural gas, other hydrocarbon and mineral properties or gathering, transportation, processing, storage or related systems; and 

(2) entry into, and Investments and expenditures in the form of or pursuant to, operating agreements, joint venture
agreements (including, without limitation, those relating to the Marcellus Midstream Owner and TGGT Holdings), partnership agreements, working interests, royalty interests, mineral leases, processing agreements, Farm-In Agreements, Farm-Out
Agreements, contracts for the sale, transportation or exchange of oil, natural gas, other hydrocarbons and minerals, production sharing agreements, development agreements (including without limitation the BG Development Agreement and the Marcellus
Joint Development Agreement), area of mutual interest agreements, unitization agreements, pooling arrangements, joint bidding agreements, service contracts and other similar agreements with third parties (including Unrestricted Subsidiaries).

 “Permitted Holders” means (i) Douglas A. Miller and his spouse and lineal descendants, their respective
estates or legal representatives and trusts created for the benefit of such Persons, provided that Douglas A. Miller shall be the chief executive officer or chairman of the board of directors of the Company (or comparable governing body); and
(ii) any entity (A) in which Persons specified in clause (i) would beneficially own, directly or indirectly, after giving effect to any transaction or series of transactions that would be a Change of Control except for operation of
this definition, more than 75% of the percentage of Voting Stock that such Persons together owned in the Company at any time during the six months preceding the beginning of such transaction or series of transactions; (B) in which Douglas A.
Miller shall be chief executive officer or chairman of the board of directors (or comparable governing body); (C) that, after giving effect to any transaction or series of transactions that would be a Change of Control except for operation of
this definition, does not have an outstanding class of equity securities registered under Section 12(b) or 12(g) of the Exchange Act; and (D) that, prior to giving effect to any transaction or series of transactions that would be a Change
of Control except for operation of this definition, does not have existing operations. 
 “Permitted Investment” means
an Investment by the Company or any Restricted Subsidiary in 
 (1) the Company, a Restricted Subsidiary or a
Person that will, upon the making of such Investment, become a Restricted Subsidiary; provided, however, that the primary business of such Restricted Subsidiary is a Related Business; 

 

 29 

 (2) another Person (A) if, as a result of such Investment, such other
Person is merged or consolidated with or into, or transfers or conveys all or substantially all its assets to, the Company or a Restricted Subsidiary or (B) for consideration consisting solely of Capital Stock of the Company; provided,
however, that, in both cases, such Person’s primary business is a Related Business; 
 (3) cash and
Temporary Cash Investments; 
 (4) receivables owing to the Company or any Restricted Subsidiary if created or
acquired in the ordinary course of business and payable or dischargeable in accordance with customary trade terms; provided, however, that such trade terms may include such concessionary trade terms as the Company or any such Restricted
Subsidiary deems reasonable under the circumstances; 
 (5) payroll, commission, travel, relocation and similar
advances to officers directors and employees to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business; 

(6) loans or advances to employees made in the ordinary course of business consistent with past practices of the Company
or such Restricted Subsidiary; 
 (7) stock, obligations or securities received in settlement of debts created in
the ordinary course of business and owing to the Company or any Restricted Subsidiary or in satisfaction of judgments; 

(8) any Person to the extent such Investment represents the non-cash portion of the consideration received for (A) an
Asset Disposition as permitted pursuant to Section 4.08 of this First Supplemental Indenture or (B) a disposition of assets not constituting an Asset Disposition; 

(9) any Person where such Investment was acquired by the Company or any of the Restricted Subsidiaries (A) in
exchange for any other Investment or accounts receivable held by the Company or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or
accounts receivable or (B) as a result of a foreclosure by the Company or any of the Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 

(10) any Person to the extent such Investments consist of prepaid expenses, negotiable instruments held for collection and
lease, utility and workers’ compensation, performance and other similar deposits made in the ordinary course of business by the Company or any Restricted Subsidiary; 

(11) any Person to the extent such Investments consist of Hedging Obligations otherwise permitted under Section 4.05
of this First Supplemental Indenture; 
  

 30 

 (12) any Person to the extent such Investment (A) exists on the Issue
Date or (B) is an extension, modification or renewal of any such Investments described under the immediately preceding clause (A) but only to the extent not involving additional advances, contributions or other Investments of cash or other
assets or other increases thereof (other than as a result of the accrual or accretion of interest or original issue discount or the issuance of pay-in-kind securities, in each case, pursuant to the terms of such Investment as in effect on the Issue
Date); 
 (13) Permitted Business Investments; 

(14) repurchases of the Securities; 

(15) Guarantees issued in accordance with Sections 4.05 and 4.14 of this First Supplemental Indenture; 

(16) Guarantees of performance or other obligations (other than Indebtedness) arising in the ordinary course in the Oil
and Gas Business, including obligations under oil and natural gas exploration, development, joint operating and related agreements and licenses or concessions related to the Oil and Gas Business; 

(17) Investments intended to promote the Company’s strategic objectives in the Oil and Gas Business in an aggregate
amount not to exceed 5.0% of ACNTA (determined as of the date of the making of any such Investment) at any one time outstanding (which Investments shall be deemed to be no longer outstanding only upon and to the extent of the return of capital
thereof); 
 (18) any Investment consisting of purchases and acquisitions of inventory, supplies, material and
equipment, purchases of contract rights or licenses or leases of intellectual property, in each case, in the ordinary course of business; 

(19) Persons to the extent such Investments, when taken together with all other Investments made pursuant to this clause
(19) outstanding on the date such Investment is made, do not exceed the greater of $20.0 million and 5% of ACNTA; and, 

(20) or if none has been selected, in the U.S. Government Portfolio (Service Class shares) of the Wilmington family of
mutual funds 
 provided that with respect to any Permitted Investment, at the time such Permitted Investment is made, the Company will
be entitled to divide and classify such Investment in more than one of the clauses of the definition of “Permitted Investment.” 

“Permitted Liens” means, with respect to any Person, 

(1) pledges or deposits by such Person under workers’ compensation laws, unemployment insurance laws or similar
legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits
of cash or United States government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of
business; 
  

 31 

 (2) Liens imposed by law, such as carriers’, warehousemen’s and
mechanics’ Liens, in each case for sums not yet due or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding
with an appeal or other proceedings for review and Liens arising solely by virtue of any statutory or common law provision relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds
maintained with a creditor depository institution; provided, however, that (A) such deposit account is not a dedicated cash collateral account and is not subject to restrictions against access by the Company in excess of those set forth
by regulations promulgated by the Federal Reserve Board and (B) such deposit account is not intended by the Company or any Restricted Subsidiary to provide collateral to the depository institution; 

(3) Liens for property taxes not yet subject to penalties for non-payment or which are being contested in good faith by
appropriate proceedings; 
 (4) Liens in favor of issuers of performance, bid or surety bonds, completion
guarantees or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; provided, however, that such letters of credit do not constitute Indebtedness; 

(5) survey exceptions, encumbrances, easements or reservations of, or rights of others for, licenses, rights-of-way,
sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real property or Liens incidental to the conduct of the business of such Person or to the ownership of its properties
which were not Incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

(6) Liens securing Indebtedness Incurred to finance the construction, purchase or lease of, or repairs, improvements or
additions to, property, plant or equipment of such Person; provided, however, that the Lien may not extend to any other property owned by such Person or any of its Restricted Subsidiaries at the time the Lien is Incurred (other than assets
and property affixed or appurtenant thereto), and the Indebtedness (other than any interest thereon) secured by the Lien may not be Incurred more than 180 days after the later of the acquisition, completion of construction, repair, improvement,
addition or commencement of full operation of the property subject to the Lien; 
 (7) Liens securing
Non-Recourse Purchase Money Indebtedness granted in connection with the acquisition by the Company or any Restricted Subsidiary in the ordinary course of business of fixed assets used in the Oil and Gas Business (including the office buildings and
other real property used by the Company or such Restricted Subsidiary in conducting its operations); provided that (i) such Liens attach only to the fixed assets acquired with the proceeds of such Non-Recourse Purchase Money Indebtedness; and
(ii) such Non-Recourse Purchase Money Indebtedness is not in excess of the purchase price of such fixed assets; 
  

 32 

 (8) Liens to secure Indebtedness permitted under Section 4.05(b)(1) of
this First Supplemental Indenture and Liens to secure Cash Management Obligations; 
 (9) Liens to secure the
Securities, any Subsidiary Guarantee and other obligations arising under this First Supplemental Indenture; 

(10) Liens existing on the Issue Date; 

(11) Liens on property or shares of Capital Stock of another Person at the time such other Person becomes a Subsidiary of
such Person (and not incurred in anticipation of or in connection with such transaction); provided, however, that the Liens may not extend to any other property owned by such Person or any of its Restricted Subsidiaries (other than assets and
property affixed or appurtenant thereto); 
 (12) Liens on property at the time such Person or any of its
Subsidiaries acquires the property, including any acquisition by means of a merger or consolidation with or into such Person or a Subsidiary of such Person (and not incurred in anticipation of or in connection with such transaction); provided,
however, that the Liens may not extend to any other property owned by such Person or any of its Restricted Subsidiaries (other than assets and property affixed or appurtenant thereto); 

(13) Liens securing Indebtedness or other obligations of a Subsidiary of such Person owing to such Person or a Restricted
Subsidiary of such Person; 
 (14) Liens securing Hedging Obligations of the Company or any of its Restricted
Subsidiaries that are permitted to be Incurred pursuant to this First Supplemental Indenture; 
 (15) Liens on,
or related to, assets to secure all or part of the costs incurred in the ordinary course of a Related Business for the surveying, exploration, drilling, extraction, development, operation, production, construction, alteration, repair, improvement,
processing, transportation, marketing, storage or operation thereof; 
 (16) Liens on pipeline or pipeline
facilities that arise under operation of law; 
 (17) Liens arising in the ordinary course of business under
operating agreements, joint venture agreements, partnership agreements, oil, natural gas, other hydrocarbon and mineral leases, Farm-Out Agreements or Farm-In Agreements, division orders, contracts for the sale, transportation or exchange of oil or
natural gas, unitization and pooling declarations and agreements, area of mutual interest agreements, overriding royalty agreements, net profits agreements, production payment agreements, royalty trust agreements, incentive compensation programs on
terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists and other providers of technical services to the Company or a Restricted Subsidiary, master limited partnership agreements, development agreements,
operating agreements, production sales contracts, gas balancing or deferred production agreements, injection, repressuring and recycling agreements, salt water or other disposal agreements, seismic or geophysical permits or agreements, and other
agreements that are customary in the Oil and Gas Business provided, however, that in all instances such Liens are limited to the assets that are the subject of the relevant agreement, program, order or contract; 

 

 33 

 (18) Liens securing Production Payments and Reserve Sales that are not
prohibited by this First Supplemental Indenture; provided, however, that such Liens do not extend to any property other than the property that is the subject of such Production Payments and Reserve Sales; 

(19) Liens reserved in oil, natural gas, other hydrocarbon and mineral leases for bonus or rental payments and for
compliance with the terms of such leases; 
 (20) Liens to secure any Refinancing (or successive Refinancings) as
a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clause (6), (9), (10), (11) or (12); provided, however, that (A) such new Lien shall be limited to all or part of the same property and assets
that secured or, under the written agreements pursuant to which the original Lien arose, could secure the original Lien (plus improvements and accessions to such property or proceeds or distributions thereof) and (B) the Indebtedness secured by
such Lien at such time is not increased to any amount greater than the sum of (i) the outstanding principal amount or, if greater, committed amount of the Indebtedness described under clause (6), (9), (10), (11) or (12) above at the
time the original Lien became a Permitted Lien and (ii) an amount necessary to pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement. 

(21) Liens securing Indebtedness of a Foreign Subsidiary permitted to be Incurred under Section 4.05(b)(15) of this
First Supplemental Indenture; provided, however, that such Liens do not extend to any property not owned by such Foreign Subsidiary; 

(22) Liens to secure Indebtedness permitted under Section 4.05(b)(23) of this First Supplemental Indenture;

 (23) Liens arising from Uniform Commercial Code financing statement filings regarding operating leases entered
into by the Company and its Restricted Subsidiaries in the ordinary course of business; 
 (24) Liens on the
Marcellus JV Oil and Gas Assets securing the obligations of the Company and certain Restricted Subsidiaries under the Marcellus JV Documents and Liens securing the obligations of the Company and certain Restricted Subsidiaries under the BG JV
Documents; 
 (25) leases, licenses, subleases and sublicenses of real property and intellectual property rights
that do not materially interfere with the ordinary conduct of the business of the Company or any of its Restricted Subsidiaries, taken as whole; and 
  

 34 

 (26) in addition to Liens permitted by clauses (1) through
(25) above, Liens that are incurred in the ordinary course of business of the Company or any Restricted Subsidiary with respect to Indebtedness and other obligations that do not exceed the greater of $25 million and 5% of ACNTA, as determined
on the date of incurrence of such Indebtedness after giving pro forma effect to such incurrence and the application of the proceeds therefrom, at any time outstanding. 

In each case set forth above, notwithstanding any stated limitation on the assets that may be subject to such Lien, a Permitted Lien on a
specified asset or group or type of assets may include Liens on all improvements, additions and accessions thereto and all products and proceeds thereof. 

For purposes of this definition, the term “Indebtedness” shall be deemed to include interest on such Indebtedness. 

“Permitted Marketing Obligations” means Indebtedness of the Company or any Restricted Subsidiary under letter of credit or
borrowed money obligations, or in lieu of or in addition to such letters of credit or borrowed money, Guarantees of such Indebtedness or other obligation, of the Company or any Restricted Subsidiary by any other Restricted Subsidiary, as applicable,
related to the purchase by the Company or any Restricted Subsidiary of hydrocarbons for which the Company or such Restricted Subsidiary has contracts to sell; provided, however, that in the event that such Indebtedness or obligations
are guaranteed by the Company or any Restricted Subsidiary, then either: (1) the Person with which the Company or such Restricted Subsidiary has contracts to sell has an Investment Grade Rating or in lieu thereof, a Person guaranteeing the
payment of such obligated Person has an Investment Grade Rating from; or (2) such Person posts, or has posted for it, a letter of credit in favor of the Company or such Restricted Subsidiary with respect to all such Person’s obligations to
the Company or such Restricted Subsidiary under such contracts. 
 “Preferred Stock,” as applied to the Capital Stock
of any Person, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of
such Person, over shares of Capital Stock of any other class of such Person. 
 “principal” of a Security means the
principal of the Security plus the premium, if any, payable on the Security which is due or overdue or is to become due at the relevant time. 

“Production Payments” means Dollar-Denominated Production Payments and Volumetric Production Payments, collectively.

 “Production Payments and Reserve Sales” means the grant or transfer to any Person of a Production Payment, royalty,
overriding royalty, net profits interest, master limited partnership interest or other interest in oil and natural gas properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production
attributable to such properties. 
 “Prospectus” means the Prospectus dated September 10, 2010 relating to the
initial offering of the Securities. 
  

 35 

 “Quotation Agent” means the Reference Treasury Dealer selected by the Trustee
after consultation with the Company. 
 “Rating Agency” means each of Standard & Poor’s or Moody’s,
or, if either Standard & Poor’s or Moody’s or both shall not make a rating on the Securities publicly available, a nationally recognized statistical rating organization registered under Section 15E of the Exchange Act
selected by the Company (as certified by a resolution of the Board of Directors) which shall be substituted for Standard & Poor’s or Moody’s or both, as the case may be. 

“Rating Event” means the rating of the Securities shall be decreased by one or more gradations by either Rating Agency, on any
date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 30-day period following public notice of the occurrence of the Change of Control (which period shall be extended to 60 days from
the date of the occurrence of the Change of Control if the rating of the Securities is under publicly announced consideration for possible downgrade by any Rating Agency). 

“Reference Treasury Dealer” means J.P. Morgan Securities LLC and its successors and assigns, Banc of America Securities LLC and
its successors and assigns and one other nationally recognized investment banking firm selected by the Company that is a primary U.S. Government securities dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue, expressed in each case as a percentage of its principal amount, quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m.,
New York City time, on the third Business Day immediately preceding such Redemption Date. 
 “Refinance” means, in
respect of any Indebtedness, to refinance, extend, renew, refund, repay, prepay, purchase, redeem, defease or retire, or to issue other Indebtedness in exchange or replacement for, such Indebtedness. “Refinanced” and
“Refinancing” shall have correlative meanings. 
 “Refinancing Indebtedness” means Indebtedness that
Refinances any Indebtedness of the Company or any Restricted Subsidiary existing on the Issue Date or Incurred in compliance with this First Supplemental Indenture, including Indebtedness that Refinances Refinancing Indebtedness; provided,
however, that: 
 (1) if the final maturity of the Indebtedness being Refinanced is earlier than the Stated
Maturity of the Securities, such Refinancing Indebtedness has a Stated Maturity no earlier than the Stated Maturity of the Indebtedness being Refinanced; 

(2) if the final maturity date of the Indebtedness being Refinanced is later than the Stated Maturity of the Securities,
such Refinancing Indebtedness has a final maturity date at least 91 days later than the Stated Maturity of the Securities. 
  

 36 

 (3) such Refinancing Indebtedness has an Average Life at the time such
Refinancing Indebtedness is Incurred that is equal to or greater than the Average Life of the Indebtedness being Refinanced. 

(4) such Refinancing Indebtedness has an aggregate principal amount (or if Incurred with original issue discount, an
aggregate issue price) that is equal to or less than the aggregate principal amount (or if Incurred with original issue discount, the aggregate accreted value) then outstanding (plus fees and expenses, including any premium and defeasance costs)
under the Indebtedness being Refinanced; and 
 (5) if the Indebtedness being Refinanced is subordinated in right
of payment to the Securities, such Refinancing Indebtedness is subordinated in right of payment to the Securities at least to the same extent as the Indebtedness being Refinanced; 

provided further, however, that Refinancing Indebtedness shall not include (A) Indebtedness of a Subsidiary of the Company that Refinances
Indebtedness of the Company (provided, however, that a Restricted Subsidiary that is also a Subsidiary Guarantor may Guarantee Refinancing Indebtedness Incurred by the Company whether or not such Restricted Subsidiary was an obligor or
guarantor of the Indebtedness being Refinanced, and provided, further, that if such Refinancing Indebtedness is subordinated to the Securities, such Guarantees shall be subordinated to such Restricted Subsidiary Guaranty to at least the same extent)
or (B) Indebtedness of the Company or a Restricted Subsidiary that Refinances Indebtedness of an Unrestricted Subsidiary. 

“Related Business” means any Oil and Gas Business and any other business in which the Company or any of the Restricted
Subsidiaries was engaged on the Issue Date and any business related, ancillary or complementary to such business. 

“Restricted Payment” with respect to any Person means: 

(1) the declaration or payment of any dividends or any other distributions of any sort in respect of its Capital Stock
(including any payment in connection with any merger or consolidation involving such Person) or similar payment to the direct or indirect holders of its Capital Stock (other than (A) dividends or distributions payable solely in its Capital
Stock (other than Disqualified Stock), (B) dividends or distributions payable solely to the Company or a Restricted Subsidiary and (C) pro rata dividends or other distributions made by a Subsidiary that is not a Wholly Owned Subsidiary to
minority stockholders (or owners of an equivalent interest in the case of a Subsidiary that is an entity other than a corporation)); 

(2) the purchase, redemption or other acquisition or retirement for value of any Capital Stock of (A) the Company or
(B) a Restricted Subsidiary held by any Affiliate of the Company (other than by a Restricted Subsidiary), including in connection with any merger or consolidation and including the exercise of any option to exchange any Capital Stock (other
than into Capital Stock of the Company that is not Disqualified Stock); 
  

 37 

 (3) the purchase, repurchase, redemption, defeasance or other acquisition or
retirement for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment of any Subordinated Obligations of the Company or any Subsidiary Guarantor (other than (A) from the Company or a Restricted Subsidiary or
(B) the purchase, repurchase, redemption, defeasance or other acquisition of Subordinated Obligations purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year
of the date of such purchase, repurchase, redemption, defeasance or other acquisition); or 
 (4) the making of
any Investment (other than a Permitted Investment) in any Person. 
 “Restricted Subsidiary” means any Subsidiary of
the Company that is not an Unrestricted Subsidiary. 
 “Sale/Leaseback Transaction” means an arrangement relating to
property owned by the Company or a Restricted Subsidiary on the Issue Date or thereafter acquired by the Company or a Restricted Subsidiary whereby the Company or a Restricted Subsidiary transfers such property to a Person and the Company or a
Restricted Subsidiary leases it from such Person. 
 “SEC” means the U.S. Securities and Exchange Commission.

 “Senior Indebtedness” means with respect to any Person: 

(1) Indebtedness of such Person, whether outstanding on the Issue Date or thereafter Incurred, including with respect to
the Company and the Subsidiary Guarantors, all Indebtedness outstanding under the Credit Agreement and all Hedging Obligations and Cash Management Obligations with respect thereto; and 

(2) all other Obligations of such Person (including interest accruing on or after the filing of any petition in bankruptcy
or for reorganization relating to such Person whether or not post-filing interest is allowed in such proceeding) in respect of Indebtedness described in clause (1) above, 

unless, in the case of clauses (1) and (2), in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is
provided that such Indebtedness or other obligations are subordinate in right of payment to the Securities or the Subsidiary Guaranty of such Person, as the case may be; provided, however, that Senior Indebtedness shall not include:

 (A) any obligation of such Person to the Company or any Subsidiary; 

(B) any liability for Federal, state, local or other taxes owed or owing by such Person; 

(C) any accounts payable or other liability to trade creditors arising in the ordinary course of business (including
guarantees thereof or instruments evidencing such liabilities); 
  

 38 

 (D) any Indebtedness or other Obligation of such Person which is subordinate
or junior in any respect to any other Indebtedness or other Obligation of such Person; or 
 (E) that portion of
any Indebtedness which at the time of Incurrence is Incurred in violation of this First Supplemental Indenture. 

“Significant Subsidiary” means any Restricted Subsidiary that would be a “Significant Subsidiary” of the Company
within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. 
 “Standard & Poor’s”
means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., and any successor to its rating agency business. 

“Subordinated Obligation” means, with respect to a Person, any Indebtedness of such Person (whether outstanding on the Issue
Date or thereafter Incurred) which is subordinate or junior in right of payment to the Securities or a Subsidiary Guaranty of such Person, as the case may be, pursuant to a written agreement to that effect. 

“Subsidiary Guarantor” means each Subsidiary of the Company that executes this First Supplemental Indenture as a guarantor on
the Issue Date and each other Subsidiary of the Company that thereafter guarantees the Securities pursuant to the terms of this First Supplemental Indenture. 

“Subsidiary Guaranty” means a Guarantee by a Subsidiary Guarantor of the Company’s obligations with respect to the
Securities. 
 “Temporary Cash Investments” means any of the following: 

(1) any investment in direct obligations of the United States of America or any agency thereof or obligations guaranteed
by the United States of America or any agency thereof; 
 (2) investments in demand and time deposit accounts,
certificates of deposit and money market deposits maturing within 270 days after the date of acquisition thereof issued by a bank or trust company which is organized under the laws of the United States of America, any State thereof or any foreign
country recognized by the United States of America, and which bank or trust company has capital, surplus and undivided profits aggregating in excess of $50.0 million (or the foreign currency equivalent thereof) and has outstanding debt which is
rated “A” (or such similar equivalent rating) or higher by at least one nationally recognized statistical rating organization (as defined in Rule 436 under the Securities Act) or any money-market fund sponsored by a registered broker
dealer or mutual fund distributor; 
 (3) investments in deposits available for withdrawal on demand with any
commercial bank that is organized under the laws of any country in which the Company or any Restricted Subsidiary maintains an office or is engaged in the Oil and Gas Business; provided, however, that (i) all such deposits have been made
in such accounts in the ordinary course of business and (ii) such deposits do not at any one time exceed $10.0 million in the aggregate; 
  

 39 

 (4) repurchase obligations with a term of not more than 30 days for
underlying securities of the types described in clause (1) above entered into with a bank meeting the qualifications described in clause (2) above; 

(5) investments in commercial paper, maturing not more than 90 days after the date of acquisition, issued by a corporation
(other than an Affiliate of the Company) organized and in existence under the laws of the United States of America or any foreign country recognized by the United States of America with a rating at the time as of which any investment therein is made
of “P-1” (or higher) according to Moody’s or “A-1” (or higher) according to Standard and Poor’s; 

(6) investments in securities with maturities of one year or less from the date of acquisition issued or fully guaranteed
by any state, commonwealth or territory of the United States of America, or by any political subdivision or taxing authority thereof, and rated at least “A” by Standard & Poor’s or “A” by Moody’s; and

 (7) investments in money market funds that invest 95% or more of their assets in securities of the types
described in clauses (1) through (6) above. 
 “TGGT Contribution Agreement” means that certain Contribution
Agreement, effective as of January 1, 2009, among EOC, Vaughan Holding Company, LLC and BG Gathering, as amended, supplemented or otherwise modified from time to time. 

“TGGT Holdings” means TGGT Holdings, LLC, a Delaware limited liability company and its successors and assigns. 

“TGGT Holdings LLC Agreement” means that certain Amended and Restated Limited Liability Company Agreement, dated as of
August 14, 2009, among BG Gathering, EOC, TGGT Holdings, and JPMorgan Chase Bank, N.A., as the Administrative Agent under the Credit Agreement, as amended, supplemented or otherwise modified from time to time. 

“Trust Officer” means the Chairman of the Board, the President or any other officer or assistant officer of the Trustee
assigned by the Trustee to administer its corporate trust matters. 
 “Uniform Commercial Code” means the New York
Uniform Commercial Code as in effect from time to time. 
 “Unrestricted Subsidiary” means: 

(1) each of EXCO Caddo Acquisition, LLC, PCMWL, LLC and EXCO Water Resources, LLC; 

(2) each of TGGT Holdings and its subsidiaries and the Marcellus Midstream Owner shall be deemed to be an Unrestricted
Subsidiary for purposes of this First Supplemental Indenture for so long as the Company, directly or indirectly, owns any (even if 50% or less) of the Capital Stock of such entity; 

 

 40 

 (3) any Subsidiary of the Company that at the time of determination shall be
designated an Unrestricted Subsidiary by the Board of Directors in the manner provided below; and 
 (4) any
Subsidiary of an Unrestricted Subsidiary. 
 The Board of Directors may designate any Subsidiary of the Company (including any
newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Capital Stock or Indebtedness of, or holds any Lien on any property of, the Company or any Subsidiary of the
Company that is not a Subsidiary of the Subsidiary to be so designated; provided, however, that either (A) the Subsidiary to be so designated has total assets of $1,000 or less or (B) if such Subsidiary has assets greater than
$1,000, such designation would be permitted under Section 4.06 of this First Supplemental Indenture. 
 The Board of
Directors may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided, however, that immediately after giving effect to such designation (A) the Company could Incur $1.00 of additional Indebtedness under
Section 4.05(a) of this First Supplemental Indenture and (B) no Default shall have occurred and be continuing. Any such designation by the Board of Directors shall be evidenced to the Trustee by promptly filing with the Trustee a copy of
the resolution of the Board of Directors giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the foregoing provisions. 

“U.S. Dollar Equivalent” means with respect to any monetary amount in a currency other than U.S. dollars, at any time for
determination thereof, the amount of U.S. dollars obtained by converting such foreign currency involved in such computation into U.S. dollars at the spot rate for the purchase of U.S. dollars with the applicable foreign currency as published in The
Wall Street Journal in the “Exchange Rates” column under the heading “Currency Trading” on the date two Business Days prior to such determination. 

Except as described in Section 4.05 of this First Supplemental Indenture, whenever it is necessary to determine whether the Company
or any Restricted Subsidiary has complied with any covenant in the Indenture or a Default has occurred and an amount is expressed in a currency other than U.S. dollars, such amount will be treated as the U.S. Dollar Equivalent determined as of
the date such amount is initially determined in such currency. 
 “Volumetric Production Payments” means production
payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith. 

“Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled (without
regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof. 
  

 41 

 “Wholly Owned Subsidiary” means a Restricted Subsidiary all the Capital Stock of
which (other than directors’ qualifying shares) is owned by the Company or one or more other Wholly Owned Subsidiaries. 

SECTION 2.03. Other Definitions. 
  

							
	 Term
	 	  	 	 Defined in Section

	“Additional Securities”	 		 		 	    1.01
	“Affiliate Transaction”	 		 		 	    4.09(a)
	“Bankruptcy Law”	 		 		 	    6.02
	“Change of Control Offer”	 		 		 	    4.11(b)
	“covenant defeasance option”	 		 		 	    7.02(b)
	“Custodian”	 		 		 	    6.02
	“Debt Securities”	 		 		 	    Recitals
	“Event of Default”	 		 		 	    6.02
	“Guaranteed Obligations”	 		 		 	    9.01
	“legal defeasance option”	 		 		 	    7.02(b)
	“Offer”	 		 		 	    4.08(b)
	“Offer Amount”	 		 		 	    4.08(c)(2)
	“Offer Period”	 		 		 	    4.08(c)(2)
	“Original Indenture”	 		 		 	    Recitals
	“Purchase Date”	 		 		 	    4.08(c)(1)
	“Reinstatement Date”	 		 		 	    4.02
	“Securities”	 		 		 	    1.01
	“Successor Company”	 		 		 	    5.02(a)(1)
	“Suspended Covenants”	 		 		 	    4.02
	 “Suspension Period”
	 		 		 	    4.02

 Terms not
defined herein but defined in the Appendix shall have the meaning set forth in the Appendix. 
 SECTION
2.04. Incorporation by Reference of Trust Indenture Act. This First Supplemental Indenture is subject to the mandatory provisions of the Trust Indenture Act which are incorporated by reference in and made a part of this First
Supplemental Indenture. The following Trust Indenture Act terms have the following meanings: 
 “Commission” means the
SEC; 
 “indenture securities” means the Securities and the Subsidiary Guaranties; 

“indenture security holder” means a Securityholder; 

“indenture to be qualified” means this First Supplemental Indenture; 

“indenture trustee” or “institutional trustee” means the Trustee; and 

“obligor” on the indenture securities means the Company, each Subsidiary Guarantor and any other obligor on the indenture
securities. 
  

 42 

 All other Trust Indenture Act terms used in this First Supplemental Indenture that are
defined by the Trust Indenture Act, defined by Trust Indenture Act reference to another statute or defined by SEC rule have the meanings assigned to them by such definitions. 

ARTICLE 3 

Redemption 

SECTION 3.01. Original Indenture. Sections 1102, 1103 and 1104 and Article XII of the Original Indenture shall not apply to
the Securities and hereafter shall be void and of no force and effect and any reference in the Original Indenture to Sections 1102, 1103 or 1104 thereof shall be deemed to refer to Sections 3.04, 3.05 or 3.06, respectively, of this First
Supplemental Indenture. 
 SECTION 3.02. Optional Redemption. (a) At any time prior to September 15, 2014,
upon not less than 30 nor more than 60 days’ prior notice as provided for in Section 3.06 of this First Supplemental Indenture, the Company may at its option redeem all, but not less than all, of the Securities at a redemption price equal
to 100% of the principal amount of the Securities redeemed plus the Applicable Premium as of, and accrued and unpaid interest to, the date of redemption (the “Redemption Date”), subject to the right of Holders of Securities on the
relevant Record Date to receive interest due on the relevant Interest Payment Date. 
 (b) Prior to September 15, 2013, the
Company may, at its option, on one or more occasions redeem Securities (which includes Additional Securities, if any) in aggregate principal amount not to exceed 35% of the aggregate principal amount of the Securities (which includes Additional
Securities, if any) originally issued at a redemption price (expressed as a percentage of principal amount of 107.500%, plus accrued and unpaid interest to the Redemption Date, with the Net Cash Proceeds from one or more Equity Offerings;
provided, however that: 
 (i) at least 65% of such aggregate principal amount of the Securities (which
includes Additional Securities, if any) remains outstanding immediately after the occurrence of each such redemption (other than Securities held, directly or indirectly, by the Company or its Affiliates); and 

(ii) each such redemption occurs within 90 days after the date of the related Equity Offering. 

Notice of any redemption upon any Equity Offering may be given prior to the completion of such Equity Offering, and any such redemption
or notice may, at the Company’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of the related Equity Offering. 

(c) From and after September 15, 2014, the Company may, at its option, redeem all or a portion of the Securities upon not less than
30 nor more than 60 days’ prior notice as provided for in Section 3.06 of this First Supplemental Indenture, at the redemption prices (expressed as percentages of principal amount of the Securities to be redeemed), plus accrued interest to
the applicable Redemption Date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date) if redeemed during the twelve-month period beginning on September 15 of each of
the years set forth below: 
  

				
	 Year
	  	Percentage	 
	 2014
	  	103.750	% 
	 2015
	  	101.875	% 
	 2016 and thereafter
	  	100.000	% 

  

 43 

 SECTION 3.03. Mandatory Redemption. The Company shall not be required to make
mandatory redemption payments or sinking fund payments with respect to the Securities. 
 SECTION 3.04. Notices to
Trustee. If the Company elects to redeem Securities pursuant to Section 3.02 of this First Supplemental Indenture, it shall notify the Trustee in writing of the Redemption Date, the principal amount of Securities to be redeemed and the
paragraph of the Securities pursuant to which the redemption will occur. 
 If the Company elects to redeem Securities pursuant
to Section 3.02 of this First Supplemental Indenture, it shall give each notice to the Trustee provided for in this Section at least 40 days before the Redemption Date unless the Trustee consents to a shorter period. Each such notice shall be
accompanied by an Officers’ Certificate and an Opinion of Counsel from the Company to the effect that such redemption will comply with the conditions herein. 

SECTION 3.05. Selection of Securities to Be Redeemed. If fewer than all the Securities are to be redeemed, the Trustee shall
select the Securities to be redeemed pro rata, to the extent practicable. The Trustee shall make the selection from outstanding Securities not previously called for redemption. The Trustee may select for redemption portions of the principal of
Securities that have denominations larger than $2,000. Securities and portions of them the Trustee selects shall be in principal amounts of $2,000 or a whole multiple of $1,000 in excess thereof. Provisions of this First Supplemental Indenture that
apply to Securities called for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Company promptly of the Securities or portions of Securities to be redeemed. 

SECTION 3.06. Notice of Redemption. At least 30 days but not more than 60 days before a date for redemption of Securities the
Company shall mail a notice of redemption by first-class mail or otherwise deliver in accordance with the procedures of DTC to each Holder of Securities to be redeemed at such Holder’s registered address. 

The notice shall identify the Securities to be redeemed and shall state: 

(1) the Redemption Date; 

(2) the redemption price; 

(3) the name and address of the Paying Agent; 

(4) that Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price;

  

 44 

 (5) if fewer than all the outstanding Securities are to be redeemed, the
identification and principal amounts of the particular Securities to be redeemed; 
 (6) that, unless the Company
defaults in making such redemption payment, interest on Securities (or portion thereof) called for redemption ceases to accrue on and after the Redemption Date; 

(7) the paragraph of the Securities pursuant to which the Securities called for redemption are being redeemed; and

 (8) that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in
such notice or printed on the Securities. 
 At the Company’s request, the Trustee shall give the notice of redemption in
the Company’s name and at the Company’s expense. In such event, the Company shall provide the Trustee with the information required by this Section. 

ARTICLE 4 

Covenants 

SECTION 4.01. Original Indenture. Section 1001 of the Original Indenture shall not apply to the Securities and hereafter
shall be void and of no force and effect and any reference in the Original Indenture to Section 1001 thereof shall be deemed to refer to Section 4.03 of this First Supplemental Indenture. 

SECTION 4.02. Covenant Suspension. During any period that the Securities have a rating equal to or higher than an Investment
Grade Rating and no Default has occurred and is continuing, the Company and the Restricted Subsidiaries shall not be subject to Section 4.05, 4.06, 4.07, 4.08, 4.09, 4.11, 4.14 and 5.02(a)(3) of this First Supplemental Indenture (collectively,
the “Suspended Covenants”). In the event that the Company and the Restricted Subsidiaries are not subject to the Suspended Covenants for any period of time as a result of the preceding sentence, and subsequently have a rating below an
Investment Grade Rating, then the Company and the Restricted Subsidiaries shall as of such date (the “Reinstatement Date”) again be subject to the Suspended Covenants (subject to subsequent suspension if the Securities again receive
Investment Grade Ratings); provided that in the event of any such reinstatement, no action taken or omitted to be taken by the Company or any of its Restricted Subsidiaries prior to such reinstatement will give rise to a Default or Event of
Default under this First Supplemental Indenture with respect to the Securities. 
 During any period that the foregoing
covenants have been suspended, the Company may not designate any of its Subsidiaries as Unrestricted Subsidiaries pursuant to this First Supplemental Indenture. 
  

 45 

 On the Reinstatement Date, all Indebtedness Incurred during the Suspension Period (as
defined below) will be classified to have been Incurred pursuant to Section 4.05(a) or one of the clauses set forth in Section 4.05(b) of this First Supplemental Indenture (to the extent such Indebtedness would be permitted to be Incurred
thereunder as of the Reinstatement Date). To the extent such Indebtedness would not be so permitted to be Incurred pursuant Sections 4.05(a) or 4.05(b) of this First Supplemental Indenture, such Indebtedness will be deemed to have been outstanding
on the Issue Date, so that it is classified under Section 4.05(b)(4) of this First Supplemental Indenture. Calculations made after the Reinstatement Date of the amount available to be made as Restricted Payments under Section 4.06 of this
First Supplemental Indenture will be made as though the covenants described under Section 4.06 of this First Supplemental Indenture had been in effect since the Issue Date and throughout the Suspension Period. Accordingly, Restricted Payments
made during the Suspension Period will reduce the amount available to be made as Restricted Payments under Section 4.06(a) of this First Supplemental Indenture. 

The period of time between the date of suspension of the covenants and the Reinstatement Date is referred to as the “Suspension
Period.” 
 The Company shall give the Trustee prompt written notice anytime that the Suspended Covenants do not apply.
Otherwise, the Trustee shall assume that the Suspended Covenants apply. 
 SECTION 4.03. Payment of Securities. The
Company shall promptly pay the principal of and interest on the Securities on the dates and in the manner provided in the Securities and in the Indenture. Principal and interest shall be considered paid on the date due if on such date the Trustee or
the Paying Agent holds in accordance with the Indenture money sufficient to pay all principal and interest then due. 
 The
Company shall pay interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. 

SECTION 4.04. SEC Reports. Whether or not the Company is subject to the reporting requirements of Section 13 or 15(d) of
the Exchange Act, so long as the Securities are outstanding, the Company shall file with the SEC (subject to the next sentence) and provide, within 15 days after such filing, the Trustee and Securityholders with the annual and other reports as are
specified in Sections 13 and 15(d) of the Exchange Act and applicable to a U.S. corporation subject to such Sections, and containing all the information, audit reports and exhibits required for such reports (but without exhibits in the case of
Securityholders). If at any time, the Company is not subject to the periodic reporting requirements of the Exchange Act for any reason, the Company shall nevertheless continue filing the reports specified in the preceding sentence with the SEC
unless the SEC will not accept such a filing. The Company agrees that it shall not take any action for the purpose of causing the SEC not to accept any such filings. If, notwithstanding the foregoing, the SEC will not accept such filings for any
reason, the Company shall post the reports specified in the preceding sentence on its website. The Company will also comply with the other provisions of Section 314(a) of the Trust Indenture Act. 

At any time that any of the Company’s Subsidiaries are Unrestricted Subsidiaries, then the quarterly and annual financial
information required by the preceding paragraph will include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in “Management’s Discussion and Analysis of Financial
Condition and Results of Operations,” of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the
Company. 
  

 46 

 The Company will be deemed to have furnished such reports to the trustees and the Holders of
Securities if it has filed such reports with the SEC using the EDGAR filing system and such reports are publicly available. 

In addition, the Company shall furnish to the Holders of the Securities and to prospective investors, upon the requests of such Holders,
any information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act during any time that the Securities are not freely transferable under the Securities Act. 

SECTION 4.05. Limitation on Indebtedness. (a) The Company shall not, and shall not permit any Restricted Subsidiary to,
Incur, directly or indirectly, any Indebtedness; provided, however, that the Company or a Restricted Subsidiary shall be entitled to Incur Indebtedness if, on the date of such Incurrence and after giving effect thereto on a pro forma
basis, the Consolidated Coverage Ratio exceeds 2.25 to 1.0, provided, further, that aggregate indebtedness pursuant to this Section 4.05(a) of all such Restricted Subsidiaries that are not Subsidiary Guarantors does not exceed an
aggregate amount of $50,000,000. 
 (b) Notwithstanding the foregoing paragraph (a), the Company and the Restricted Subsidiaries
shall be entitled to Incur any or all of the following Indebtedness: 
 (1) Indebtedness Incurred by the Company
and the Subsidiary Guarantors pursuant to any Credit Facility; provided, however, that, immediately after giving effect to any such Incurrence, the aggregate principal amount of all Indebtedness Incurred under this clause (b)(1) and then
outstanding does not exceed an amount equal to the greater of (A) $1.2 billion less (x) the sum of all principal payments which result in a permanent reduction in borrowing capacity of the Company or its Restricted Subsidiaries and
(B) 75% of ACNTA as of the date of such Incurrence; 
 (2) Indebtedness of the Company owing to and held by
any Restricted Subsidiary or Indebtedness of a Restricted Subsidiary owing to and held by the Company or any other Restricted Subsidiary; provided, however, that (A) any subsequent issuance or transfer of any Capital Stock which results
in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any subsequent transfer of such Indebtedness (other than to the Company or a Restricted Subsidiary) shall be deemed, in each case, to constitute the Incurrence of such
Indebtedness by the obligor thereon not permitted by this clause (2), (B) if the Company is the obligor on such Indebtedness, and a Subsidiary Guarantor is not the obligee, such Indebtedness is expressly subordinated to the prior payment in
full in cash of all obligations with respect to the Securities and (C) if a Subsidiary Guarantor is the obligor on such Indebtedness and the Company or another Subsidiary Guarantor is not the obligee, such Indebtedness is expressly subordinated
to the prior payment in full in cash of all obligations of such obligor with respect to its Subsidiary Guaranty; 
  

 47 

 (3) the Securities (other than any Additional Securities) and the Subsidiary
Guarantees related thereto; 
 (4) Indebtedness outstanding on the Issue Date (other than Indebtedness described
in clause (1), (2) or (3) of this Section 4.05(b)); 
 (5) Permitted Acquisition Indebtedness;

 (6) Refinancing Indebtedness in respect of Indebtedness Incurred pursuant to Section 4.05(a) of this
First Supplemental Indenture or pursuant to clause (3), (4) or (5) of this Section 4.05(b) or this clause (6); provided, however, that to the extent such Refinancing Indebtedness directly or indirectly Refinances Indebtedness
of a Subsidiary Incurred pursuant to clause (5), such Refinancing Indebtedness shall be Incurred only by such Subsidiary; 

(7) Hedging Obligations consisting of Interest Rate Agreements directly related to Indebtedness permitted to be Incurred
by the Company and the Restricted Subsidiaries pursuant to this First Supplemental Indenture; 
 (8) Hedging
Obligations consisting of Oil and Natural Gas Hedging Contracts and Currency Agreements entered into in the ordinary course of business for the purpose of limiting risks that arise in the ordinary course of business of the Company and its
Subsidiaries; 
 (9) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness in
respect of workers’ compensation claims, payment obligations in connection with health or other types of social security benefits, unemployment or other insurance or self-insurance obligations, reclamation, statutory obligations, banks’
acceptances and obligations in respect of performance, bid and surety bonds and completion guarantees provided by the Company or any Restricted Subsidiary in the ordinary course of business; 

(10) (a) Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar
instrument drawn against insufficient funds in the ordinary course of business; provided, however, that such Indebtedness is extinguished within 15 Business Days of its Incurrence and (b) Indebtedness pursuant to Cash Management
Obligations Incurred in the ordinary course of business; provided, however, that such Indebtedness is extinguished within 30 Business Days of its Incurrence; 

(11) Indebtedness consisting of the Subsidiary Guaranty of a Subsidiary Guarantor and any Guarantee by the Company or a
Subsidiary Guarantor of Indebtedness Incurred pursuant to Section 4.05(a) of this First Supplemental Indenture or pursuant to clause (1), (3), (4), (5), (8), (9), (14), (15), (18) or (23) of this Section 4.05(b) or pursuant to
clause (6) of this Section 4.05(b) to the extent the Refinancing Indebtedness Incurred thereunder directly or indirectly Refinances Indebtedness Incurred pursuant to Section 4.05(a) of this First Supplemental Indenture or pursuant to
clause (1), (3), (4), (5), (8), (9), (14), (15), (18) or (23) of this Section 4.05(b); 
  

 48 

 (12) in-kind obligations relating to net oil or natural gas balancing
positions arising in the ordinary course of business; 
 (13) Non-Recourse Purchase Money Indebtedness;

 (14) Indebtedness (including Capital Lease Obligations) Incurred by the Company or a Restricted Subsidiary to
finance all or any part of the design, development, installation, construction, purchase or lease of, or repairs, improvements or additions to, property, plant or equipment of such Person not more than 180 days after the later of the acquisition,
completion of construction, repair, improvement, addition or commencement of full operation of such property, plant or equipment, in an aggregate principal amount which, when added together with the amount of Indebtedness previously Incurred
pursuant to this clause (14) and then outstanding, does not exceed the greater of (a) $10.0 million or (b) 2% of ACNTA, determined as of the Incurrence of such Indebtedness; 

(15) Indebtedness of a Foreign Subsidiary in an aggregate principal amount which, when added together with the amount of
Indebtedness previously Incurred pursuant to this clause (15) and then outstanding, does not exceed $5.0 million; 

(16) Indebtedness arising from Guarantees by the Company or any Restricted Subsidiary of Indebtedness incurred in
connection with Permitted Business Investments at any time outstanding not to exceed the greater of $60.0 million and 5.0% of ACNTA determined as of the date of incurrence of such Indebtedness after giving pro forma effect to such incurrence
and the application of proceeds thereof; 
 (17) Permitted Marketing Obligations; 

(18) Indebtedness consisting of the financing of insurance premiums in customary amounts consistent with the operations
and business of the Company and the Restricted Subsidiaries; 
 (19) Guarantees by the Company of the obligations
of EOC to pay (i) the BG Development Costs under Section 2.3 of the BG Joint Development Agreement with respect to Oil and Gas Interests owned by the Company or the Subsidiary Guarantors or any of its Unrestricted Subsidiaries and
(ii) additional contributions under Article 3 of the TGGT Holdings LLC Agreement; 
 (20) Guarantees by EOC
of the obligations of EXCO Water to International Paper Company under the IPC Water Supply Agreement for water purchases in an aggregate amount not to exceed $5,000,000; 

(21) Guarantees by the Company of the obligations of certain of its Subsidiaries to pay such Subsidiaries’ share of
the Marcellus Development Costs with respect to the Marcellus JV Oil and Gas Assets in accordance with the terms of the Marcellus JV Documents; 
  

 49 

 (22) Indebtedness arising from agreements of the Company or a Restricted
Subsidiary providing for indemnification, adjustment of purchase price or similar obligations, in each case, Incurred or assumed in connection with the disposition of any business or assets of the Company or any business, assets or Capital Stock of
a Restricted Subsidiary, other than Guarantees of Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or a Subsidiary for the purpose of financing such acquisition, provided that: 

(a) the maximum aggregate liability in respect of all such Indebtedness shall at no time exceed the gross proceeds,
including non-cash proceeds (the fair market value of such non-cash proceeds being measured at the time received and without giving effect to subsequent changes in value), actually received by the Company and its Restricted Subsidiaries in
connection with such disposition; and 
 (b) such Indebtedness is not reflected on the balance sheet of the
Company or any of its Restricted Subsidiaries (contingent obligations referred to in a footnote to financial statements and not otherwise reflected on the balance sheet will not be deemed to be reflected on such balance sheet for purposes of this
clause (22)); and 
 (23) Indebtedness of the Company or any Subsidiary Guarantor in an aggregate principal
amount which, when taken together with all other Indebtedness of the Company and the Subsidiary Guarantors outstanding on the date of such Incurrence (other than Indebtedness permitted by clauses (1) through (22) of this
Section 4.05(b) or Section 4.05(a) of this First Supplemental Indenture), does not exceed the greater of (x) 2.5% of ACNTA determined as of the date of the incurrence of such Indebtedness and (y) $20.0 million. 

(c) Notwithstanding the foregoing, neither the Company nor any Subsidiary Guarantor shall Incur any Indebtedness pursuant to
Section 4.05(b) of this First Supplemental Indenture if the proceeds thereof are used, directly or indirectly, to Refinance any Subordinated Obligations of the Company or a Subsidiary Guarantor unless such Indebtedness shall be subordinated to
the Securities or to the applicable Subsidiary Guaranty to at least the same extent as such Subordinated Obligations. 
 (d) For
purposes of determining compliance with this Section 4.05, (1) all Indebtedness outstanding on the date of this First Supplemental Indenture under the Credit Agreement shall be deemed initially Incurred on the Issue Date under
Section 4.05(b)(1) and not Section 4.05(a) or Section 4.05(b)(4) of this First Supplemental Indenture; (2) in the event that an item of Indebtedness (or any portion thereof) meets the criteria of more than one of the types of
Indebtedness described above, or is entitled to be Incurred pursuant to Section 4.05(a) of this First Supplemental Indenture, the Company, in its sole discretion, shall classify such item of Indebtedness (or any portion thereof) at the time of
Incurrence and may later reclassify such item of Indebtedness in any manner that complies with this Section 4.05 and shall only be required to include the amount and type of such Indebtedness in one of the above clauses; (3) at the time of
Incurrence, the Company shall be entitled to divide and classify (or later classify, reclassify or re-divide in whole or in part in its sole discretion) an item of Indebtedness in more than one of the types of Indebtedness described above;
(4) Guarantees of or obligations in respect of letters or credit relating to Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included; (5) if obligations in respect of
letters of credit are incurred pursuant to the Credit Agreement and are being treated as incurred pursuant to Section 4.05(b)(1) of this First Supplemental Indenture and the letters of credit relate to other Indebtedness, then such other
Indebtedness shall not be included; (6) the amount of Indebtedness issued at a price that is less than the principal amount thereof shall be equal to the amount of the liability in respect thereof determined in accordance with GAAP; and
(7) Indebtedness of any Person existing at the time such Person becomes a Restricted Subsidiary shall be deemed to have been Incurred by the Company and the Restricted Subsidiary at the time such Person becomes a Restricted Subsidiary.

  

 50 

 (e) For purposes of determining compliance with any U.S. dollar-denominated restriction on
the Incurrence of Indebtedness where the Indebtedness Incurred is denominated in a different currency, the amount of such Indebtedness shall be the U.S. Dollar Equivalent determined on the date of the Incurrence of such Indebtedness;
provided, however, that if any such Indebtedness denominated in a different currency is subject to a Currency Agreement with respect to U.S. dollars covering all principal, premium, if any, and interest payable on such Indebtedness, the
amount of such Indebtedness expressed in U.S. dollars shall be as provided in such Currency Agreement. The principal amount of any Refinancing Indebtedness Incurred in the same currency as the Indebtedness being Refinanced shall be the
U.S. Dollar Equivalent of the Indebtedness Refinanced, except to the extent that (1) such U.S. Dollar Equivalent was determined based on a Currency Agreement, in which case the Refinancing Indebtedness shall be determined in
accordance with the preceding sentence, and (2) the principal amount of the Refinancing Indebtedness exceeds the principal amount of the Indebtedness being Refinanced, in which case the U.S. Dollar Equivalent of such excess shall be
determined on the date such Refinancing Indebtedness is Incurred. 
 SECTION 4.06. Limitation on Restricted
Payments. (a) The Company shall not, and shall not permit any Restricted Subsidiary, directly or indirectly, to make a Restricted Payment if at the time the Company or such Restricted Subsidiary makes such Restricted Payment: 

(1) a Default shall have occurred and be continuing (or would result therefrom); 

(2) the Company is not entitled to Incur an additional $1.00 of Indebtedness under Section 4.05(a) of this First
Supplemental Indenture; or 
 (3) the aggregate amount of such Restricted Payment and all other Restricted
Payments since June 30, 2010 would exceed the sum of (without duplication): 
 (A) 50% of the Consolidated
Net Income accrued during the period (treated as one accounting period) from September 1, 2010 to the end of the most recent fiscal quarter ending at least 40 days prior to the date of such Restricted Payment (or, in case such Consolidated Net
Income shall be a deficit, minus 100% of such deficit); plus 
  

 51 

 (B) 100% of the aggregate Net Cash Proceeds and 100% of the fair market
value (as determined by the Board of Directors in good faith) of property other than cash received by the Company from the issuance or sale of its Capital Stock or of debt securities of the Company that have been converted into or exchanged for such
Capital Stock (other than Disqualified Stock) subsequent to June 30, 2010 (other than an issuance or sale to a Subsidiary of the Company and other than an issuance or sale financed directly or indirectly with Indebtedness to an employee stock
ownership plan or to a trust established by the Company or any of its Subsidiaries for the benefit of their employees) and 100% of any cash capital contribution received by the Company from its shareholders subsequent to June 30, 2010; plus

 (C) the amount by which Indebtedness is reduced on the Company’s consolidated balance sheet upon the
conversion or exchange (other than by a Subsidiary of the Company) subsequent to June 30, 2010 of any Indebtedness convertible or exchangeable for Capital Stock (other than Disqualified Stock) of the Company (plus the amount of any accrued
interest then outstanding on such Indebtedness to the extent the obligation to pay such interest is extinguished less the amount of any cash, or the fair value of any other property, distributed by the Company upon such conversion or exchange)
provided, however, that the foregoing amount shall not exceed the Net Cash Proceeds received by the Company or any Restricted Subsidiary from the sale of such Indebtedness (excluding Net Cash Proceeds from sales to a Subsidiary of the Company
or, in the case of a sale financed directly or indirectly with Indebtedness, to an employee stock ownership plan or to a trust established by the Company or any of its Subsidiaries for the benefit of their employees); plus 

(D) an amount equal to the sum of (i) the net reduction in the Investments (other than Permitted Investments) made
subsequent to June 30, 2010 by the Company or any Restricted Subsidiary in any Person resulting from repurchases, repayments or redemptions of such Investments by such Person, proceeds realized on the sale of such Investment and proceeds
representing the return of capital (excluding dividends and distributions), in each case received by the Company or any Restricted Subsidiary; provided, however, that such amount shall not exceed the amount of Investments (excluding
Permitted Investments) previously made (and treated as a Restricted Payment) by the Company or any Restricted Subsidiary in such Person, and (ii) to the extent such Person is an Unrestricted Subsidiary, the portion (proportionate to the
Company’s equity interest in such Subsidiary) of the fair market value of the net assets of such Unrestricted Subsidiary at the time such Unrestricted Subsidiary is designated a Restricted Subsidiary or is sold; provided, however, that
such amount shall not exceed, in the case of any Unrestricted Subsidiary other than TGGT Holdings and its subsidiaries and the Marcellus Midstream Owner, the amount of Investments (excluding Permitted Investments) previously made (and treated as a
Restricted Payment) by the Company or any Restricted Subsidiary in such Unrestricted Subsidiary; and provided, further, that in the case of TGGT Holdings and its subsidiaries and the Marcellus Midstream Owner, the amount of any
Permitted Investments made since the Issue Date by the Company or any Restricted Subsidiary in any of TGGT Holdings and its subsidiaries and the Marcellus Midstream Owner shall be deducted from such amount; plus 

 

 52 

 (E) $500 million. 

(b) The provisions of Section 4.06(a) of this First Supplemental Indenture shall not prohibit: 

(1) any Restricted Payment made, within 90 days of the sale or contribution, out of the Net Cash Proceeds of the
substantially concurrent sale of, or made by exchange for, Capital Stock of the Company (other than Disqualified Stock and other than Capital Stock issued or sold to a Subsidiary of the Company or an employee stock ownership plan or to a trust
established by the Company or any of its Subsidiaries for the benefit of their employees) or a cash capital contribution received by the Company from its shareholders; provided, however, that (A) such Restricted Payment shall be excluded
in the calculation of the amount of Restricted Payments and (B) the Net Cash Proceeds from such sale or such cash capital contribution (to the extent so used for such Restricted Payment) shall be excluded from the calculation of amounts under
Section 4.06(a)(3)(B) of this First Supplemental Indenture; 
 (2) any purchase, repurchase, redemption,
defeasance or other acquisition or retirement for value of Subordinated Obligations of the Company or a Subsidiary Guarantor made, within 90 days of the sale, by exchange for, or out of the proceeds of the sale of, Indebtedness of such Person which
is permitted to be Incurred pursuant to Section 4.05 of this First Supplemental Indenture; provided, however, that such purchase, repurchase, redemption, defeasance or other acquisition or retirement for value shall be excluded in the
calculation of the amount of Restricted Payments; 
 (3) dividends paid on the consummation of any redemption of
Subordinated Obligations within 60 days after the date of declaration of the dividend, or giving of the notice of redemption, as the case may be, if at such date of declaration or of notice such dividend or payment, would have complied with this
Section 4.06; provided, however, that such dividends and payments shall be included in the calculation of the amount of Restricted Payments; 

(4) so long as no Default has occurred and is continuing, Restricted Payments to effect the repurchase or other
acquisition of shares of Capital Stock of the Company or any of its Subsidiaries from employees, former employees, directors or former directors of the Company or any of its Subsidiaries (or heirs, estates or other permitted transferees of such
employees, former employees, directors or former directors), pursuant to the terms of the agreements (including employment agreements or management equity subscription agreements), stock options or plans (or amendments thereto) approved by the Board
of Directors under which such individuals purchase or sell or are granted the option to purchase or sell, shares of such Capital Stock; provided, however, that the aggregate amount of such repurchases and other acquisitions (excluding amounts
representing cancelation of Indebtedness) shall not exceed in any calendar year $2.0 million plus any unused amount permitted under this clause (4) for the immediately preceding year, but not to exceed $4.0 million in any single calendar year;
provided further, however, that such repurchases and other acquisitions shall be excluded in the calculation of the amount of Restricted Payments; 
  

 53 

 (5) payments of dividends on Disqualified Stock issued pursuant to
Section 4.05 of this First Supplemental Indenture; provided, however, that at the time of payment of such dividend, no Default shall have occurred and be continuing (or result therefrom); provided further, however, that such
dividends shall be excluded in the calculation of the amount of Restricted Payments; 
 (6) repurchases or other
acquisitions of Capital Stock deemed to occur upon exercise of stock options, warrants or other convertible securities if such Capital Stock represents a portion of the exercise or exchange price thereof, and repurchases or other acquisitions of
Capital Stock made in lieu of withholding taxes in connection with any such exercise or exchange; provided, however, that such Restricted Payments shall be excluded in the calculation of the amount of Restricted Payments; 

(7) cash payments in lieu of the issuance of fractional shares in connection with the exercise of warrants, options or
other securities convertible into or exchangeable for Capital Stock of the Company; provided, however, that any such cash payment shall not be for the purpose of evading this Section 4.06 (as determined in good faith by the Board of
Directors); provided further, however, that such payments shall be excluded in the calculation of the amount of Restricted Payments; 

(8) in the event of a Change of Control Repurchase Event or an Asset Disposition, and if no Default shall have occurred
and be continuing, the payment, purchase, repurchase, redemption, defeasance or other acquisition or retirement of Subordinated Obligations of the Company or any Restricted Subsidiary (i) at a purchase price not greater than 101% of the
principal amount of such Subordinated Obligations, plus any accrued and unpaid interest thereon in the event of a Change of Control Repurchase Event and (ii) at a purchase price not greater than 100% of the principal amount of such Subordinated
Obligations plus any accrued but unpaid interest thereon, in the case of an Asset Disposition; provided, however, that prior to such payment, purchase, repurchase, redemption, defeasance or other acquisition or retirement, the Company
(or a third party to the extent permitted by this First Supplemental Indenture) has made a Change of Control Offer or Asset Disposition Offer with respect to the Securities as a result of such Change of Control Repurchase Event or Asset Disposition
and has repurchased all Securities validly tendered and not withdrawn in connection with such offer; provided further, however, that such repurchase and other acquisitions shall be included in the calculation of the amount of
Restricted Payments; 
 (9) payments of intercompany Indebtedness that was permitted to be Incurred under this
First Supplemental Indenture; provided, however, that no Default has occurred and is continuing or would otherwise result therefrom; provided further, however, that such payments shall be excluded in the calculation of the amount of
Restricted Payments; 
  

 54 

 (10) the declaration or payment of dividends on such common stock of up to
$50.0 million per annum; provided, however, that such dividends shall be excluded in the calculation of the amount of Restricted Payments; 

(11) (a) any transfer to an Unrestricted Subsidiary of any direct or indirect interest of the Company and its
Restricted Subsidiaries in real property so long as such interest at the time of such sale or transfer (i) does not include any material proved oil, natural gas, or other hydrocarbons and minerals and (ii) includes a surface interest, and
(b) any disposition (by dividend or distribution in respect of Capital Stock of the Company or otherwise) of any such Unrestricted Subsidiary; provided, however, that such transfers and dispositions shall be excluded in the
calculation of the amount of Restricted Payments; 
 (12) payments to dissenting stockholders (a) pursuant
to applicable law or (b) in connection with the settlement or other satisfaction of legal claims made pursuant to or in connection with a consolidation, merger or transfer of assets in connection with a transaction that is not prohibited by
this First Supplemental Indenture; provided, however, that such payments shall be excluded in the calculation of the amount of Restricted Payments; 

(13) for the avoidance of doubt, payments made by any Person other than the Company or any Restricted Subsidiary to the
stockholders of the Company in connection with or as part of (a) a merger or consolidation of the Company with or into such Person or a Subsidiary of such Person, of (b) a merger of a Subsidiary of such Person into the Company;
provided, however, that such payments shall be excluded in the calculation of the amount of Restricted Payments; 

(14) repurchases of common stock of the Company pursuant to the Company’s existing stock repurchase program pursuant
to Rule 10b-18 under the Securities Act; provided, however, that such payments shall be excluded in the calculation of the amount of Restricted Payments; or 

(15) Restricted Payments in an amount which, when taken together with all Restricted Payments made pursuant to this clause
(15), does not exceed the greater of (a) $40.0 million and (b) 2.5% of ACNTA; provided, however, that such payments shall be excluded in the calculation of the amount of Restricted Payments. 

(c) For purposes of determining compliance with this Section 4.06, at the time a Restricted Payment is made, the Company shall be
entitled to divide and classify such Restricted Payment in more than one of the types of Restricted Payments described above. The amount of all Restricted Payments (other than cash) shall be the fair market value on the date of the Restricted
Payment of the asset(s) or securities proposed to be transferred by the Company or the applicable Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment. The fair market value of any assets or securities that are required to
be valued at the time of such Restricted Payment by this Section 4.06 shall be evidenced by an Officers’ Certificate which shall be delivered to the Trustee not later than ten Business Days following the date of the making of any
Restricted Payment. Such Officers’ Certificate shall state that such Restricted Payment is permitted together with a copy of any related resolutions of the Board of Directors. 

 

 55 

 The Company shall not permit any Unrestricted Subsidiary to become a Restricted Subsidiary
except pursuant to the last paragraph of the definition of “Unrestricted Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Company and its Restricted
Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Restricted Payments in an amount determined as set forth in the definition of “Investment.” Such designation shall be permitted only if a
Restricted Payment in such amount would be permitted at such time and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted Subsidiaries will not be subject to any of the restrictive covenants set forth in
this First Supplemental Indenture. 
 SECTION 4.07. Limitation on Restrictions on Distributions from Restricted
Subsidiaries. The Company shall not, and shall not permit any Restricted Subsidiary to, create or otherwise cause or permit to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to
(a) pay dividends or make any other distributions on its Capital Stock to the Company or a Restricted Subsidiary or pay any Indebtedness owed to the Company; provided that the priority of any Preferred Stock in receiving dividends or
liquidating distributions being paid on common stock shall not be deemed a restriction of the ability to make distributions of Capital Stock, (b) make any loans or advances to the Company; provided that the subordination of loans or
advances made to the Company or any Restricted Subsidiary to other Indebtedness incurred by the Company or any Restricted Subsidiary shall not be deemed a restriction of the ability to make loans or advances or (c) transfer any of its property
or assets to the Company, except: 
 (1) with respect to clauses (a), (b) and (c) above, 

(A) any encumbrance or restriction pursuant to an agreement in effect at or entered into on the Issue Date including, for
the avoidance of doubt, the Credit Agreement; 
 (B) any encumbrance or restriction with respect to a Restricted
Subsidiary pursuant to an agreement relating to any Indebtedness Incurred by such Restricted Subsidiary, or otherwise binding on such Restricted Subsidiary, on or prior to the date on which such Restricted Subsidiary was acquired or was so
designated by the Company or any Restricted Subsidiary (other than Indebtedness Incurred as consideration in, or to provide all or any portion of the funds or credit support utilized to consummate, and other than any encumbrance or restriction
entered into in contemplation of, the transaction or series of related transactions pursuant to which such Restricted Subsidiary became a Restricted Subsidiary or was acquired by the Company) and outstanding on such date; 

 

 56 

 (C) any encumbrance or restriction pursuant to an agreement effecting a
Refinancing of Indebtedness Incurred pursuant to an agreement referred to in Section 4.07(1)(A) or (B) of this First Supplemental Indenture or this clause (C) or contained in any amendment to an agreement referred to in
Section 4.07(1)(A) or (B) of this First Supplemental Indenture or this clause (C); provided, however, that the encumbrances and restrictions with respect to such Restricted Subsidiary contained in any such refinancing agreement or
amendment are no more restrictive than the encumbrances and restrictions with respect to such Restricted Subsidiary contained in such predecessor agreements; 

(D) any encumbrance or restriction with respect to a Restricted Subsidiary (or any of its property or assets) imposed
pursuant to an agreement entered into for the sale or disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary (or the property or assets subject to such restrictions) pending the closing of such sale or
disposition; 
 (E) customary encumbrances and restrictions contained in agreements of the type described in the
definition of the term “Permitted Business Investments”; 
 (F) any encumbrance or restriction
pursuant to an agreement relating to any Capital Lease Obligations, purchase money Indebtedness or Indebtedness owed by any Foreign Subsidiary, in each case not Incurred in violation of this First Supplemental Indenture; provided, however,
that (1) with respect to purchase money Indebtedness or Capital Lease Obligations, such restrictions relate only to the property financed with such Indebtedness and (2) with respect to any Indebtedness owed by any such Foreign Subsidiary,
such encumbrance or restriction relates only to property owned by such Foreign Subsidiary and is not materially more restrictive to such Foreign Subsidiary than is customary in comparable financings, as determined in good faith by the Board of
Directors; 
 (G) any encumbrance or restriction pursuant to provisions in agreements or instruments which
prohibit the payment of dividends or the making of other distributions with respect to any Capital Stock of a Person other than on a pro rata basis; 

(H) any encumbrance or restriction existing pursuant to applicable law, rule, regulation, order, approval, license,
permit or similar restriction; 
 (I) any encumbrance or restriction pursuant to supermajority voting
requirements under corporate charters, bylaws, stockholders agreements and similar documents and agreements; and 

(J) any encumbrance or restriction pursuant to an instrument or agreement governing Indebtedness permitted by the terms
of this First Supplemental Indenture to be Incurred by a Restricted Subsidiary to fund, in whole or in part, the acquisition of any property or assets; provided such Indebtedness is repaid or otherwise refinanced in full with Permitted
Refinancing Indebtedness on or prior to the date 12 months after the date such Indebtedness was initially incurred; and 
  

 57 

 (2) with respect to clause (c) only, 

(A) any encumbrance or restriction consisting of customary nonassignment provisions (including provisions forbidding
subletting) in leases governing leasehold interests or Farm-In Agreements or Farm-Out Agreements to the extent such provisions restrict the transfer of the lease or the property leased thereunder; 

(B) any encumbrance or restriction contained in Capital Lease Obligations, security agreements, mortgages, purchase money
agreements or similar instruments securing Indebtedness of a Restricted Subsidiary to the extent such encumbrance or restriction restricts the transfer of the property (including Capital Stock) subject to such Capital Lease Obligations, security
agreements, mortgages, purchase money agreements or similar instruments; 
 (C) Permitted Liens or Liens
securing Indebtedness otherwise permitted to be Incurred pursuant to the provisions of Section 4.12 of this First Supplemental Indenture that limit the right of the Company or any of its Restricted Subsidiaries to dispose of the assets subject
to such Lien; 
 (D) customary restrictions contained in asset sale agreements limiting the transfer of such
assets pending the closing of such sale; 
 (E) customary restrictions on the subletting, assignment or transfer
of any property or asset that is subject to a lease, license, sub-license or similar contract, or the assignment or transfer of any such lease, license, sub-license or other contract; 

(F) encumbrances and restrictions contained in contracts entered into in the ordinary course of business, not relating to
any Indebtedness, and that do not, individually or in the aggregate, detract from the value of, or from the ability of the Company and the Restricted Subsidiaries to realize the value of, property or assets of the Company or any Restricted
Subsidiary in any manner material to the Company or any Restricted Subsidiary; and 
 (G) any encumbrance or
restriction pursuant to provisions with respect to the disposition or distribution of assets or property in operating agreements, sale-leaseback agreements, joint venture agreements, development agreements, area of mutual interest agreements and
other agreements that are customary in the Oil and Gas Business and entered into in the ordinary course of business. 
  

 58 

 SECTION 4.08. Limitation on Sales of Assets and Subsidiary Stock. (a) The
Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, consummate any Asset Disposition unless (1) the Company or such Restricted Subsidiary receives consideration (including by way of relief from, or by
any Person assuming responsibilities for any liabilities, contingent or otherwise) at the time of such Asset Disposition at least equal to the fair market value (including as to the value of all non-cash consideration), as determined in good faith
by the Board of Directors or an executive officer of the Company or such Restricted Subsidiary with the responsibility for such transaction which determination shall be conclusive evidence of compliance with this provision, of the shares and assets
subject to such Asset Disposition; (2) at least 75% of the consideration thereof received by the Company or such Restricted Subsidiary is in the form of cash or cash equivalents or Additional Assets or any combination thereof; and (3) an
amount equal to 100% of the Net Available Cash from such Asset Disposition is applied by the Company (or such Restricted Subsidiary, as the case may be) (A) to the extent the Company elects (or is required by the terms of any Senior
Indebtedness), to prepay, repay, redeem or purchase Indebtedness of the Company or a Subsidiary Guarantor (other than any Disqualified Stock), in each case other than Indebtedness owed to the Company or a Subsidiary of the Company, within 540 days
from the later of the date of such Asset Disposition or the receipt of such Net Available Cash; (B) to the extent the Company elects, to acquire Additional Assets or to make capital expenditures in the Oil and Gas Business, in each case within
540 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash; and (C) to the extent of the balance of such Net Available Cash after any application in accordance with either or both of clauses
(A) and (B), to make an Offer to the Holders of the Securities (and to holders of other Senior Indebtedness of the Company or of any Restricted Subsidiary designated by the Company) to purchase Securities (and such other Senior Indebtedness of
the Company or of any Restricted Subsidiary) pursuant to and subject to the conditions of this First Supplemental Indenture. 

Notwithstanding the foregoing, the 75% limitation referred to in Section 4.08(a)(2) of this First Supplemental Indenture shall be
deemed satisfied with respect to any Asset Disposition in which the cash or cash equivalents portion of the consideration received therefrom, determined in accordance with the foregoing provision on an after-tax basis, is equal to or greater than
what the after-tax cash proceeds would have been had such Asset Disposition complied with such 75% limitation. 
 The
requirement of Section 4.08(a)(3)(B) of this First Supplemental Indenture shall be deemed to be satisfied if an agreement (including a lease, whether a capital lease or an operating lease) committing to make the acquisitions or expenditures
referred to therein is entered into by the Company or a Restricted Subsidiary within the time period specified in such clause and such Net Available Cash is subsequently applied in accordance with such agreement within six months following such
agreement. 
 Notwithstanding the foregoing provisions of this Section 4.08, the Company and the Restricted Subsidiaries
shall not be required to apply any Net Available Cash in accordance with this Section 4.08(a) except to the extent that the aggregate Net Available Cash from all Asset Dispositions which is not applied in accordance with this
Section 4.08(a) exceeds $50.0 million. Pending application of Net Available Cash pursuant to this Section 4.08(a), such Net Available Cash may be invested in any manner that is not prohibited under this First Supplemental Indenture.

  

 59 

 For the purposes of this Section 4.08(a), the following are deemed to be cash or cash
equivalents: (i) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet) of the Company or any Restricted Subsidiary (other than liabilities that are subordinated to the Securities or any
Subsidiary Guaranty) that are assumed by the transferee of any such assets pursuant to a customary novation agreement or similar agreement that releases the Company or such Restricted Subsidiary from all further liability, (ii) securities
received by the Company or any Restricted Subsidiary from the transferee that are converted within 180 days by the Company or such Restricted Subsidiary into cash, to the extent of cash received in that conversion, and (iii) accounts receivable
of a business retained by the Company or any Restricted Subsidiary, as the case may be, following the sale of such business, provided that such accounts receivable are not (A) past due more than 30 days and (B) do not have a payment
greater than 90 days from the date of the invoice creating such accounts receivable. 
 (b) In the event of
an Asset Disposition that requires the purchase of Securities (and other Senior Indebtedness of the Company or a Subsidiary Guarantor) pursuant to Section 4.08(a)(3)(C) of this First Supplemental Indenture, the Company shall purchase Securities
tendered pursuant to an offer by the Company for the Securities (and such other Senior Indebtedness) (the “Offer”) made on or before the
541st day after the later of the date of such Asset
Disposition or the receipt of such Net Available Cash at a purchase price of 100% of their principal amount (or, in the event such other Senior Indebtedness of the Company or such Subsidiary Guarantor was issued with original issue discount greater
than 2.5%, 100% of the accreted value thereof), without premium, plus accrued but unpaid interest (or, in respect of such other Senior Indebtedness of the Company or such Subsidiary Guarantor, such lesser price, if any, as may be provided for by the
terms of such Senior Indebtedness in accordance with the procedures (including prorating in the event of oversubscription) set forth in Section 4.08(c) of this First Supplemental Indenture; provided, however, that the procedures for
making an offer to holders of other Senior Indebtedness will be as provided for by the terms of such Senior Indebtedness. If the aggregate purchase price of the Indebtedness tendered pursuant to the Offer exceeds the Net Available Cash allotted to
their purchase, the Company shall select the Indebtedness to be purchased on a pro rata basis but in round denominations, which in the case of the Securities will be denominations of $2,000 principal amount and any integral multiple of $1,000 in
excess thereof. The Company shall not be required to make an Offer to purchase Securities (and other Senior Indebtedness of the Company or a Subsidiary Guarantor) pursuant to this Section 4.08 if the Net Available Cash available therefor is
less than $50.0 million (which lesser amount shall be carried forward for purposes of determining whether such an Offer is required with respect to the Net Available Cash from any subsequent Asset Disposition). Upon completion of such an Offer, Net
Available Cash shall be deemed to be reduced by the aggregate amount of such Offer (whether or not accepted) and any then remaining Net Available Cash following such offer may be used for any purpose not prohibited by this First Supplemental
Indenture. 
  

 60 

 (c) (1) Promptly, and in any event within 10 days after the Company becomes obligated to
make an Offer, the Company shall deliver to the Trustee and send, by first-class mail or otherwise deliver in accordance with the procedures of DTC to each Holder, a written notice stating that the Holder may elect to have his Securities purchased
by the Company either in whole or in part (subject to prorating as described in Section 4.08(b) of this First Supplemental Indenture in the event the Offer is oversubscribed) in denominations of $2,000 principal amount and any integral multiple
of $1,000 in excess thereof, at the applicable purchase price. The notice shall specify a purchase date not less than 30 days nor more than 60 days after the date of such notice (the “Purchase Date”) and shall contain such information
concerning the business of the Company which the Company in good faith believes will enable such Holders to make an informed decision (which at a minimum will include (A) the most recently filed Annual Report on Form 10-K (including audited
consolidated financial statements) of the Company, the most recent subsequently filed Quarterly Report on Form 10-Q and any Current Report on Form 8-K of the Company filed subsequent to such Quarterly Report, other than Current Reports describing
Asset Dispositions otherwise described in the offering materials (or corresponding successor reports), (B) a description of material developments in the Company’s business subsequent to the date of the latest of such Reports and
(C) if material, appropriate pro forma financial information) and all instructions and materials necessary to tender Securities pursuant to the Offer, together with the information contained in clause (3). 

(2) Not later than the date upon which written notice of an Offer is delivered to the Trustee as provided above, the
Company shall deliver to the Trustee an Officers’ Certificate as to (A) the amount of the Offer (the “Offer Amount”), including information as to any other Senior Indebtedness included in the Offer, (B) the allocation of the
Net Available Cash from the Asset Dispositions pursuant to which such Offer is being made and (C) the compliance of such allocation with the provisions of Section 4.08(a) and (b) of this First Supplemental Indenture. On such date, the
Company shall also irrevocably deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust) in Temporary Cash Investments, maturing on the last day prior to the Purchase Date or
on the Purchase Date if funds are immediately available by open of business, an amount equal to the Offer Amount to be held for payment in accordance with the provisions of this Section. If the Offer includes other Senior Indebtedness, the deposit
described in the preceding sentence may be made with any other paying agent pursuant to arrangements satisfactory to the Trustee. Upon the expiration of the period for which the Offer remains open (the “Offer Period”), the Company shall
deliver to the Trustee for cancellation the Securities or portions thereof which have been properly tendered to and are to be accepted by the Company. The Trustee shall, on the Purchase Date, mail or deliver payment (or cause the delivery of
payment) to each tendering Holder in the amount of the purchase price. In the event that the aggregate purchase price of the Securities delivered by the Company to the Trustee is less than the Offer Amount applicable to the Securities, the Trustee
shall deliver the excess to the Company immediately after the expiration of the Offer Period for application in accordance with this Section 4.08. 

(3) Holders electing to have a Security purchased shall be required to surrender the Security, with an appropriate form
duly completed, to the Company at the address specified in the notice at least three Business Days prior to the Purchase Date. Holders shall be entitled to withdraw their election if the Trustee or the Company receives not later than one Business
Day prior to the Purchase Date, a telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was delivered for purchase by the Holder and a statement that such Holder is withdrawing his
election to have such Security purchased. Holders whose Securities are purchased only in part shall be issued new Securities equal in principal amount to the unpurchased portion of the Securities surrendered. 

 

 61 

 (4) At the time the Company delivers Securities to the Trustee which are to
be accepted for purchase, the Company shall also deliver an Officers’ Certificate stating that such Securities are to be accepted by the Company pursuant to and in accordance with the terms of this Section. A Security shall be deemed to have
been accepted for purchase at the time the Trustee, directly or through an agent, mails or delivers payment therefor to the surrendering Holder. 

(d) The Company shall comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other
securities laws or regulations in connection with the repurchase of Securities pursuant to this Section. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section, the Company shall comply with
the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section by virtue of its compliance with such securities laws or regulations. 

SECTION 4.09. Limitation on Affiliate Transactions. (a) The Company shall not, and shall not permit any Restricted
Subsidiary to, enter into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property, employee compensation arrangements or the rendering of any service) with, or for the benefit of, any Affiliate of the
Company involving aggregate consideration in excess of $5.0 million (an “Affiliate Transaction”) unless (1) the terms of the Affiliate Transaction are no less favorable to the Company or such Restricted Subsidiary than those that
could be obtained at the time of the Affiliate Transaction in arm’s-length dealings with a Person who is not an Affiliate and if, in the good faith judgment of the Board of Directors (whose determination shall be conclusive), no comparable
transaction is available with which to compare such Affiliate Transaction, such Affiliate Transaction is otherwise fair to the Company or the relevant Restricted Subsidiary from a financial point of view; (2) if such Affiliate Transaction
involves an amount in excess of $25.0 million, the terms of the Affiliate Transaction are set forth in writing and a majority of the non-employee directors of the Company disinterested with respect to such Affiliate Transaction have determined in
good faith that the criteria set forth in clause (1) are satisfied and have approved the relevant Affiliate Transaction as evidenced by a resolution of the Board of Directors; and (3) if such Affiliate Transaction involves an amount in
excess of $50.0 million, the Board of Directors shall also have received a written opinion from an Independent Qualified Party to the effect that such Affiliate Transaction is fair, from a financial standpoint, to the Company and the Restricted
Subsidiaries or is not less favorable to the Company and the Restricted Subsidiaries than could reasonably be expected to be obtained at the time in an arm’s-length transaction with a Person who was not an Affiliate. 

(b) The provisions of Section 4.09(a) of this First Supplemental Indenture shall not prohibit: 

(1) any Investment (other than an Investment described in clauses (2), (13) and (19) of the definition of “Permitted
Investment”) or other Restricted Payment, in each case permitted to be made pursuant to Section 4.06 of this First Supplemental Indenture; 
  

 62 

 (2) any issuance of securities, or other payments, awards or grants in cash, securities or
otherwise pursuant to, or the funding of, employment arrangements, stock options and stock ownership plans approved by the Board of Directors; 

(3) loans or advances to officers or employees in the ordinary course of business in accordance with the past practices of the Company or
the Restricted Subsidiaries, in each case only as permitted by Section 402 of the Sarbanes-Oxley Act of 2002 but in any event not to exceed $5.0 million in the aggregate outstanding at any one time; 

(4) the payment of reasonable fees to directors of the Company and the Restricted Subsidiaries who are not employees of the Company or the
Restricted Subsidiaries, the reimbursement of reasonable out-of-pocket expenses incurred by, directors of the Company and the Restricted Subsidiaries in attending meetings of such directors and indemnification payments made to officers, directors
and employees of the Company or any Subsidiary pursuant to charter, bylaw, statutory or contractual provisions; 
 (5) any
transaction between or among the Company and a Restricted Subsidiary or joint venture or similar entity which would constitute an Affiliate Transaction solely because the Company or a Restricted Subsidiary owns an equity interest in or otherwise
controls such Restricted Subsidiary, joint venture or similar entity; (6) the issuance or sale of any Capital Stock (other than Disqualified Stock) of the Company to, or the receipt by the Company of any capital contribution from, its
stockholders or Affiliates; 
 (7) any agreement as in effect on the Issue Date and described in the Prospectus or any amendments
or other modifications, renewals or extensions of any such agreement (so long as such amendments or other modifications, renewals or extensions are not materially less favorable to the Company or the Restricted Subsidiaries) and the transactions
evidenced thereby; 
 (8) any sale of oil, natural gas, or other hydrocarbons or other mineral products to an Affiliate of the
Company or the entering into or performance of Oil and Natural Gas Hedging Contracts, gas gathering, transportation or processing contracts or oil or natural gas marketing or exchange contracts with an Affiliate of the Company, in each case, in the
ordinary course of business, so long as the terms of any such transaction are approved by a majority of the members of the Board of Directors who are disinterested with respect to such transaction; 

 

 63 

 (9) transactions contemplated by the Marcellus JV Documents or the BG JV Documents, in each
case as in effect on the Issue Date, in the ordinary course of business and otherwise in compliance with the terms of this First Supplemental Indenture, which are fair to the Company and its Restricted Subsidiaries, in the reasonable determination
of the Board of Directors of the Company, an executive officer of the Company or an executive officer of such Restricted Subsidiary with responsibility for such transaction (whose determination shall be conclusive evidence of compliance with this
provision) and amendments, modifications, supplements, extensions or renewals of such agreements from time to time, so long as any such amendment, modification, supplement, extension or renewal is not more disadvantageous to the Holders in any
material respect in the good faith judgment of the Board of Directors of the Company, when taken as a whole, than the terms of such agreements in effect on the Issue Date; 

(10) transactions with Unrestricted Subsidiaries, customers, clients, suppliers, or purchasers or sellers of goods or services in each
case in the ordinary course of business and otherwise in compliance with this First Supplemental Indenture, which are fair to the Company and its Restricted Subsidiaries, in the reasonable determination of the Board of Directors of the Company, an
executive officer of the Company or an executive officer of such Restricted Subsidiary with responsibility for such transaction (whose determination shall be conclusive evidence of compliance with this provision) or are on terms at least as
favorable as might reasonably have been obtained at such time from an unaffiliated party; 
 (11) transactions between the
Company or any Restricted Subsidiary and any Person, a director of which is also a director of the Company and such director is the sole cause for such Person to be deemed an Affiliate of the Company or any Restricted Subsidiary, provided however
that such director shall abstain from voting as a director of the Company on any matter involving such other Person; 
 (12) any
transaction in which the Company or any of its Restricted Subsidiaries as the case may be, deliver to the Trustee, a written opinion from an Independent Qualified Party to the effect that such Affiliate Transaction is fair, from a financial
standpoint, to the Company and the Restricted Subsidiaries or is not less favorable to the Company and the Restricted Subsidiaries than could reasonably be expected to be obtained at the time in an arm’s-length transaction with a Person who was
not an Affiliate; 
 (13) guarantees of performance by the Company and its Restricted Subsidiaries of the Company’s
Unrestricted Subsidiaries in the ordinary course of business, except for guarantees of Indebtedness in respect of borrowed money; and 

(14) if such Affiliate Transaction is with a Person in its capacity as a holder of Indebtedness or Capital Stock of the Company or any
Restricted Subsidiary where such Person is treated no more favorably than the holders of Indebtedness or Capital Stock of the Company or any Restricted Subsidiary. 

SECTION 4.10. Limitation on Line of Business. The Company shall not, and shall not permit any Restricted Subsidiary, to
engage in any business other than a Related Business. 
  

 64 

 SECTION 4.11. Change of Control. (a) Upon the occurrence of a Change of
Control Repurchase Event, each Holder shall have the right to require that the Company repurchase such Holder’s Securities at a purchase price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to
the date of purchase (subject to the right of holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), in accordance with the terms contemplated in Section 4.11(b) of this First Supplemental
Indenture. 
 (b) Within 30 days following any Change of Control Repurchase Event, the Company shall mail or otherwise deliver
in accordance with the procedures of DTC a notice to each Holder with a copy to the Trustee (the “Change of Control Offer”) stating: 

(1) that a Change of Control Repurchase Event has occurred and that such Holder has the right to require the Company to
purchase such Holder’s Securities at a purchase price in cash equal to 101% of the principal amount thereof on the date of purchase, plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of Holders of record on
the relevant record date to receive interest on the relevant interest payment date); 
 (2) the circumstances and
relevant facts regarding such Change of Control Repurchase Event (including information with respect to pro forma historical income, cash flow and capitalization, in each case after giving effect to such Change of Control); 

(3) the purchase date (which shall be no earlier than 30 days nor later than 60 days from the date such notice is mailed
or otherwise delivered); and 
 (4) the instructions, as determined by the Company, consistent with this Section,
that a Holder must follow in order to have its Securities purchased. 
 (c) Holders electing to have a Security purchased will
be required to surrender the Security, with an appropriate form duly completed, to the Company at the address specified in the notice at least three Business Days prior to the purchase date. Holders will be entitled to withdraw their election if the
Trustee or the Company receives not later than one Business Day prior to the purchase date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was delivered for
purchase by the Holder and a statement that such Holder is withdrawing his election to have such Security purchased. 
 (d) On
the purchase date, all Securities purchased by the Company under this Section shall be delivered by the Company to the Trustee for cancellation, and the Company shall pay the purchase price plus accrued and unpaid interest, if any, to the Holders
entitled thereto. 
 (e) Notwithstanding the foregoing provisions of this Section, the Company shall not be required to make a
Change of Control Offer following a Change of Control Repurchase Event if (a) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section applicable to
a Change of Control Offer made by the Company and purchases all Securities validly tendered and not withdrawn under such Change of Control Offer or (b) a notice of redemption has been given pursuant to Section 3.04 of this First
Supplemental Indenture unless and until there is a default in payment of the applicable redemption price. 
  

 65 

 (f) Notwithstanding the foregoing provisions of this Section, a Change of Control Offer by
the Company or a third party may be made in advance of a Change of Control Repurchase Event, and conditioned upon the occurrence of such Change of Control Repurchase Event, if a definitive agreement is in place for a Change of Control at the time of
making the Change of Control Offer. 
 (g) In the event that Holders of not less than 90% of the aggregate principal amount of
the outstanding Securities accept a Change of Control Offer and the Company purchases all of the Securities held by such Holders, the Company will have the right, upon not less than 30 nor more than 60 days’ prior notice, to elect, within 30
days following the purchase pursuant to the Change of Control Offer described above, to redeem all of the Securities that remain outstanding following such purchase at a purchase price in cash equal to 101% of the principal amount thereof on the
date of purchase plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant interest payment date). 

(h) The Company shall comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other
securities laws or regulations in connection with the repurchase of Securities pursuant to this Section. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section, the Company shall comply with
the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section by virtue of its compliance with such securities laws or regulations. 

SECTION 4.12. Limitation on Liens. The Company shall not, and shall not permit any Restricted Subsidiary to, directly or
indirectly, Incur or permit to exist any Lien of any nature whatsoever on any of its properties (including Capital Stock of a Restricted Subsidiary), whether owned at the Issue Date or thereafter acquired, other than Permitted Liens, without
effectively providing that the Securities or the Subsidiary Guaranty, as the case may be, shall be secured equally and ratably with the obligations so secured (or in the case of Subordinated Obligations, prior or senior thereto, with the same
relative priority as the Securities shall have with respect to such Subordinated Obligations) for so long as such obligation is secured. 

SECTION 4.13. Limitation on Sale/Leaseback Transactions. The Company shall not, and shall not permit any Restricted
Subsidiary to, enter into any Sale/Leaseback Transaction with respect to any property unless (a) the Company or such Restricted Subsidiary would be entitled to (1) Incur Indebtedness in an amount equal to the Attributable Debt with respect
to such Sale/Leaseback Transaction pursuant to Section 4.05 of this First Supplemental Indenture and (2) create a Lien on such property securing such Attributable Debt without equally and ratably securing the Securities pursuant to
Section 4.12 of this First Supplemental Indenture, (b) the net proceeds received by the Company or any Restricted Subsidiary in connection with such Sale/Leaseback Transaction are at least equal to the fair market value (as determined by
the Board of Directors) of such property and (c) the Company applies the proceeds of such transaction in compliance with Section 4.08 of this First Supplemental Indenture. 

 

 66 

 SECTION 4.14. Future Guarantors. The Company shall cause each domestic
Restricted Subsidiary that is a Significant Subsidiary and that Incurs any Indebtedness in an original principal amount greater than the De Minimis Guaranteed Amount to, and each Foreign Subsidiary that is a Significant Subsidiary and that enters
into a Guarantee of any Senior Indebtedness (other than a Foreign Subsidiary that Guarantees Senior Indebtedness Incurred by another Foreign Subsidiary), to, in each case, at the same time, execute and deliver to the Trustee a Guaranty Agreement
pursuant to which such Restricted Subsidiary will Guarantee payment of the Securities on the same terms and conditions as those set forth in Article 9 of this First Supplemental Indenture. 

SECTION 4.15. Further Instruments and Acts. Upon request of the Trustee, the Company will execute and deliver such further
instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this First Supplemental Indenture. 

ARTICLE 5 

Successor Company 

SECTION 5.01. Original Indenture. Article VIII of the Original Indenture shall not apply to the Securities and hereafter
shall be void and of no force and effect. 
 SECTION 5.02. When Company May Merge or Transfer Assets. (a) The
Company shall not consolidate with or merge with or into, or convey, transfer or lease, in one transaction or a series of transactions, directly or indirectly, all or substantially all its assets to, any Person, unless: 

(1) the resulting, surviving or transferee Person (the “Successor Company”) shall be a Person organized and
existing under the laws of the United States, any State thereof or the District of Columbia and the Successor Company (if not the Company) shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form
satisfactory to the Trustee, all the obligations of the Company under the Securities and the Indenture; 
 (2)
immediately after giving pro forma effect to such transaction (and treating any Indebtedness which becomes an obligation of the Successor Company or any Subsidiary as a result of such transaction as having been Incurred by the Successor
Company or such Subsidiary at the time of such transaction), no Default shall have occurred and be continuing; 

(3) immediately after giving pro forma effect to such transaction and any related financing transactions as if the
same had occurred at the beginning of the applicable four-quarter period, the Successor Company would either (x) be able to Incur an additional $1.00 of Indebtedness pursuant to Section 4.05(a) of this First Supplemental Indenture;
(y) have a Consolidated Coverage Ratio that is not less than the Consolidated Coverage Ratio of the Company and its Restricted Subsidiaries immediately prior to such transaction; or (z) have a Consolidated Net Worth that is not less than
the Consolidated Net Worth of the Company and its Restricted Subsidiaries immediately prior to such transaction; and 
  

 67 

 (4) the Company shall have delivered to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with the Indenture; 

provided, however, that clause (3) will not be applicable to (A) a Restricted Subsidiary consolidating with, merging into or
transferring all or part of its properties and assets to the Company or another Subsidiary Guarantor or (B) the Company merging with an Affiliate of the Company solely for the purpose and with the sole effect of reincorporating the Company in
another jurisdiction under the law of the United States or any political subdivision or State thereof. 
 For purposes of this
Section 5.02, the sale, lease, conveyance, assignment, transfer or other disposition in a single transaction or series of related transactions of all or substantially all of the properties and assets of one or more Subsidiaries of the Company,
which properties and assets, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of the properties and assets of the Company on a consolidated basis, shall be deemed to be the transfer of all or
substantially all of the properties and assets of the Company. 
 The Successor Company shall be the successor to the Company
and shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture, and the predecessor Company, except in the case of a lease, shall be released from the obligation to pay the principal of and
interest on the Securities. 
 (b) The Company shall not permit any Subsidiary Guarantor to consolidate with or merge with or
into, or convey, transfer or lease, in one transaction or series of transactions, all or substantially all of its assets to any Person unless: 

(1) the resulting, surviving or transferee Person (if not such Subsidiary) shall be a Person organized and existing under
the laws of the jurisdiction under which such Subsidiary was organized or under the laws of the United States, or any State thereof or the District of Columbia, and such Person shall expressly assume, by an amendment to the Indenture, in a form
satisfactory to the Trustee, all the obligations of such Subsidiary, if any, under its Subsidiary Guaranty (except in the case of a Subsidiary Guarantor (x) that has been disposed of in its entirety to another Person (other than to the Company
or any other Subsidiary of the Company), whether through a merger, consolidation or sale of Capital Stock or assets, (y) that, as a result of the disposition of all or a portion of its Capital Stock, ceases to be a Subsidiary or (z) that
has otherwise been released from its Subsidiary Guaranty in accordance with the terms thereof and the terms of this First Supplemental Indenture, in each case, if in connection therewith the Company provides an Officers’ Certificate to the
Trustee to the effect that the Company will comply with its obligations under Section 4.08 of this First Supplemental Indenture in respect of such disposition); 

 

 68 

 (2) immediately after giving effect to such transaction or transactions on a
pro forma basis (and treating any Indebtedness which becomes an obligation of the resulting, surviving or transferee Person as a result of such transaction as having been issued by such Person at the time of such transaction), no Default
shall have occurred and be continuing; and 
 (3) the Company delivers to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such Guaranty Agreement, if any, complies with the Indenture. 

The successor Subsidiary Guarantor shall be the successor to the Subsidiary Guarantor and shall succeed to, and be substituted for, and
may exercise every right and power of, the Subsidiary Guarantor under the Indenture, and the predecessor Subsidiary Guarantor, except in the case of a lease, shall be released from the obligation to pay the principal of and interest on the
Securities. 
 (c) Notwithstanding the foregoing, any Subsidiary Guarantor may merge with or into or transfer all or part of its
properties and assets to a Subsidiary Guarantor or the Company or merge with a Subsidiary Guarantor of the Company, as long as (1) immediately after giving effect to such transaction or transactions on a pro forma basis (and treating any
Indebtedness which becomes an obligation of the resulting, surviving or transferee Person as a result of such transaction as having been issued by such Person at the time of such transaction), no Default shall have occurred and be continuing and
(2) the amount of Indebtedness of such Subsidiary Guarantor and its Restricted Subsidiaries is not materially increased thereby. 

ARTICLE 6 

Defaults and Remedies 

SECTION 6.01. Original Indenture. Article V and 602 and 1004 of the Original Indenture shall not apply to the Securities and
hereafter shall be void and of no force and effect and any reference in the Original Indenture to Article V shall be deemed to refer to Article VI of this First Supplemental Indenture and any reference in the Original Indenture to Sections 602 and
1004 thereof shall be deemed to refer to Section 6.05 of this First Supplemental Indenture. 
 SECTION 6.02. Events
of Default. An “Event of Default” occurs if: 
 (1) the Company defaults in any payment of interest
on any Security when the same becomes due and payable, and such default continues for a period of 30 days; 
 (2)
the Company (A) defaults in the payment of the principal of any Security when the same becomes due and payable at its Stated Maturity, upon optional redemption, upon declaration of acceleration or otherwise, or (B) fails to redeem or
purchase Securities when required pursuant to this First Supplemental Indenture or the Securities; 
  

 69 

 (3) the Company fails to comply with Section 5.02 of this First
Supplemental Indenture above; 
 (4) the Company fails to comply with Section 4.04, 4.05, 4.06, 4.07, 4.08,
4.09, 4.11, 4.12, 4.13, 4.14 or 4.15 of this First Supplemental Indenture (other than a failure to purchase Securities when required under Section 4.08 or 4.11) and such failure continues for 60 days after the notice specified below;

 (5) the Company or any Subsidiary Guarantor fails to comply with any of its agreements in the Indenture (other
than those referred to in clause (1), (2), (3) or (4) above) and such failure continues for 90 days after the notice specified below; 

(6) Indebtedness of the Company, any Subsidiary Guarantor or any Significant Subsidiary is not paid within any applicable
grace period after final maturity or is accelerated by the Holders thereof because of a default and the total amount of such Indebtedness unpaid or accelerated exceeds $25.0 million, or its foreign currency equivalent at the time, provided,
that if any such default is cured or waived or any such acceleration rescinded, or such Indebtedness is repaid, within a period of 30 days from the continuation of such default beyond the applicable grace period or the occurrence of such
acceleration, as the case may be, such Event of Default under the Indenture and any consequential acceleration of the Securities shall be automatically rescinded; 

(7) the Company, any Subsidiary Guarantor or any Significant Subsidiary pursuant to or within the meaning of any
Bankruptcy Law: 
 (A) commences a voluntary case; 

(B) consents to the entry of an order for relief against it in an involuntary case; 

(C) consents to the appointment of a Custodian of it or for all or substantially all of its property; or 

(D) makes a general assignment for the benefit of its creditors; or takes any comparable action under any foreign laws
relating to insolvency; 
 (8) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that: 
 (A) is for relief (with respect to the petition commencing such case) against the Company, a
Subsidiary Guarantor or any Significant Subsidiary in an involuntary case; 
 (B) appoints a Custodian of the
Company, a Subsidiary Guarantor or any Significant Subsidiary or for all or substantially all of its property; or 
  

 70 

 (C) orders the winding up or liquidation of the Company, a Subsidiary
Guarantor or any Significant Subsidiary; 
 or any similar relief is granted under any foreign laws and the order or decree remains unstayed and
in effect for 60 consecutive days; 
 (9) the Company, any Subsidiary Guarantor or any Significant Subsidiary
fails to pay final, non-appealable judgments (to the extent not covered by insurance) aggregating in excess of $25.0 million or its foreign currency equivalent for a period of 60 consecutive days following such judgment; or 

(10) any Subsidiary Guaranty ceases to be in full force and effect (other than in accordance with the terms of such
Subsidiary Guaranty) or any Subsidiary Guarantor denies or disaffirms its obligations under its Subsidiary Guaranty, as the case may be. 

The foregoing will constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or
involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. 

The term “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state law for the relief of
debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 

A Default under clause (4) or (5) above is not an Event of Default until the Company receives from the Trustee or the holders
of at least 25% in principal amount of the outstanding Securities a notice specifying the default, demanding that the default be remedied and stating that such notice is a “Notice of Default” and the Company does not cure such Default
within the time specified above after receipt of such notice. 
 The Company shall deliver to the Trustee, within 30 days after
becoming aware of the occurrence thereof, written notice in the form of an Officers’ Certificate of any Event of Default under clause (6) or (10) above and any event which with the giving of notice or the lapse of time would become an
Event of Default under clause (4), (5) or (9) above, its status and what action the Company is taking or proposes to take with respect thereto. 

SECTION 6.03. Acceleration. If an Event of Default (other than an Event of Default specified in Section 6.02(7) or
(8) of this First Supplemental Indenture with respect to the Company) occurs and is continuing, the Trustee by notice (as specified below) to the Company, or the Holders of at least 25% in principal amount of the outstanding Securities by
notice (as specified below) to the Company and the Trustee, may declare the principal of and accrued but unpaid interest on all the Securities to be due and payable by notice in writing to the Company specifying such Event of Default and stating
that such notice is a “Notice of Acceleration.” Upon such a declaration, such principal and interest shall be due and payable immediately. If an Event of Default specified in Section 6.02(7) or (8) of this First Supplemental
Indenture with respect to the Company occurs and is continuing, the principal of and interest on all the Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any
Securityholders. The Holders of a majority in principal amount of the outstanding Securities by notice to the Trustee may waive an existing or past Event of Default and its consequences and may also rescind any such acceleration and its consequences
if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of principal or interest that has become due solely because of acceleration. No such rescission shall
affect any subsequent Default or impair any right consequent thereto. 
  

 71 

 SECTION 6.04. Other Remedies. If an Event of Default occurs and is continuing,
the Trustee may pursue any available remedy to collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities or the Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No
remedy is exclusive of any other remedy. All available remedies are cumulative. 
 SECTION 6.05. Control by
Majority. The Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the
Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or the Indenture or, subject to Section 601 of the Original Indenture, that the Trustee determines is unduly prejudicial to the rights of other
Securityholders or would involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Subject to Section 601 of the
Original Indenture, in case an Event of Default occurs and is continuing, the Trustee will have no obligation to exercise any of the rights or powers under the Indenture at the request or direction of the Securityholders unless prior to taking any
action hereunder, such Securityholders have offered reasonable indemnification or security against all losses, liability and expenses caused by taking or not taking such action. 

SECTION 6.06. Limitation on Suits. Except to enforce the right to receive payment of principal, premium (if any) or interest
when due, no Securityholder may pursue any remedy with respect to this Indenture or the Securities unless: 
 (1)
the Holder gives to the Trustee written notice stating that an Event of Default is continuing; 
 (2) the Holders
of at least 25% in principal amount of the Securities make a written request to the Trustee to pursue the remedy; 

(3) such Holder or Holders offer to the Trustee reasonable security or indemnity against any loss, liability or expense;

 (4) the Trustee does not comply with the request within 60 days after receipt of the request and the offer of
security or indemnity; and 
  

 72 

 (5) the Holders of a majority in principal amount of the Securities do not
give the Trustee a direction inconsistent with the request during such 60-day period. 
 A Securityholder may not use this
Indenture to prejudice the rights of another Securityholder or to obtain a preference or priority over another Securityholder. 

SECTION 6.07. Rights of Holders to Receive Payment. Notwithstanding any other provision of the Indenture, the right of any
Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed in the Securities, or to bring suit for the enforcement of any such payment on or after such respective
dates, shall not be impaired or affected without the consent of such Holder. 
 SECTION 6.08. Collection Suit by
Trustee. If an Event of Default specified in Section 6.02(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount then due and
owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 607 of the Original Indenture. 

SECTION 6.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as
may be necessary or advisable in order to have the claims of the Trustee and the Securityholders allowed in any judicial proceedings relative to the Company, its creditors or its property and, unless prohibited by law or applicable regulations,
participate as a member of any official committee of creditors appointed in such matter and may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such
judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 607 of the Original Indenture. 

Priorities. If the Trustee collects any money or property pursuant to this Article 6, it shall pay out the money or property in
the following order: 
 FIRST: to the Trustee for amounts due under Section 607 of the Original Indenture;

 SECOND: to Securityholders for amounts due and unpaid on the Securities for principal and interest, ratably,
without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and 

THIRD: to the Company. 

The Trustee may fix a record date and payment date for any payment to Securityholders pursuant to this Section. At least 15 days before
such record date, the Company shall mail or otherwise deliver in accordance with the procedures of DTC to each Securityholder and the Trustee a notice that states the record date, the payment date and amount to be paid. 

 

 73 

 SECTION 6.10. Undertaking for Costs. In any suit for the enforcement of any
right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party
litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 of this First Supplemental Indenture or a suit by Holders of more than 10% in principal amount of the Securities. 

SECTION 6.11. Waiver of Stay or Extension Laws. The Company (to the extent it may lawfully do so) shall not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and
the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the
execution of every such power as though no such law had been enacted. 
 SECTION 6.12. Notice of Defaults. If a
Default occurs, is continuing and is known to the Trustee, the Trustee shall mail or otherwise deliver in accordance with the procedures of DTC to each Holder of the Securities notice of the Default within 90 days after it occurs. Except in the case
of a Default in the payment of principal or of interest of or on any Securities, the Trustee may withhold notice if an so long as a committee of its Trust Officers determines that withholding notice is not opposed to the interest of the Holders of
the Securities. In addition, the Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, a certificate signed by its principal executive officer, principal financial officer or principal accounting officer, stating
whether or not, to the knowledge of such officer, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided
hereunder) and, if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 

ARTICLE 7 

Discharge of Indenture; Defeasance 

SECTION 7.01. Original Indenture. Articles IV and XIII of the Original Indenture shall not apply to the Securities and
hereafter shall be void and of no force and effect. 
 SECTION 7.02. Discharge of Liability on Securities;
Defeasance. (a) When (1) the Company delivers to the Trustee all outstanding Securities (other than Securities replaced pursuant to Section 306 of the Original Indenture) for cancellation or (2) all outstanding Securities
have become due and payable, whether at maturity or on a Redemption Date as a result of the mailing or delivery of a notice of redemption pursuant to Article 3 hereof (it being understood that all outstanding Securities will be deemed to be due and
payable on such Redemption Date upon the mailing or delivery of such notice of redemption), and, in the case of clause (2), the Company irrevocably deposits with the Trustee funds sufficient to pay at maturity or upon redemption all outstanding
Securities, including interest thereon to maturity or such Redemption Date (other than Securities replaced pursuant to Section 306 of the Original Indenture), and if in either case the Company pays all other sums payable hereunder by the
Company, then this First Supplemental Indenture shall, subject to Section 7.02(c) of this First Supplemental Indenture, cease to be of further effect. The Trustee shall acknowledge satisfaction and discharge of the Indenture on demand of the
Company accompanied by an Officers’ Certificate and an Opinion of Counsel and at the cost and expense of the Company. 
  

 74 

 (b) Subject to Sections 7.02(c) and 7.03 of this First Supplemental Indenture, the Company
at any time may terminate (1) all its obligations under the Securities and the Indenture (“legal defeasance option”) or (2) its obligations under Sections 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13 and 4.14 of
this First Supplemental Indenture and the operation of Sections 6.02(4), 6.02(6), 6.02(7), 6.02(8), 6.02(9) and 6.02(10) of this First Supplemental Indenture (but, in the case of Sections 6.02 (7) and (8), with respect only to Significant
Subsidiaries and Subsidiary Guarantors) and the limitations contained in Section 5.02(a)(3) of this First Supplemental Indenture (“covenant defeasance option”). The Company may exercise its legal defeasance option notwithstanding its
prior exercise of its covenant defeasance option. 
 If the Company exercises its legal defeasance option, payment of the
Securities may not be accelerated because of an Event of Default with respect thereto. If the Company exercises its covenant defeasance option, payment of the Securities may not be accelerated because of an Event of Default specified in Sections
6.02(4), 6.02(5), 6.02(6), 6.02(7), 6.02(8), 6.02(9), 6.02(10) of this First Supplemental Indenture (but, in the case of Sections 6.02(6) and (7), with respect only to Significant Subsidiaries and Subsidiary Guarantors) or because of the failure of
the Company to comply with Section 5.02(a)(3) of this First Supplemental Indenture. If the Company exercises its legal defeasance option or its covenant defeasance option, each Subsidiary Guarantor, if any, shall be released from all of its
obligations with respect to its Subsidiary Guaranty. 
 Upon satisfaction of the conditions set forth herein and upon request of
the Company, the Trustee shall acknowledge in writing the discharge of those obligations that the Company terminates. 
 (c)
Notwithstanding clauses (a) and (b) above, the Company’s obligations in Sections 305, 306, 307, 607 and 610 of the Original Indenture and in this Article 7 shall survive until the Securities have been paid in full. Thereafter, the
Company’s obligations in Sections 607 of the Original Indenture, 7.04 and 7.05 of this First Supplemental Indenture shall survive. 

SECTION 7.03. Conditions to Defeasance. The Company may exercise its legal defeasance option or its covenant defeasance
option only if: 
 (1) the Company irrevocably deposits in trust with the Trustee money or U.S. Government
Obligations for the payment of principal of and interest on the Securities to maturity or redemption, as the case may be; 
  

 75 

 (2) the Company delivers to the Trustee a certificate from a nationally
recognized firm of independent accountants expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment will provide
cash at such times and in such amounts as will be sufficient to pay principal and interest when due on all the Securities to maturity or redemption, as the case may be; 

(3) 123 days pass after the deposit is made and during the 123-day period no Default specified in Sections 6.02(7) or
(8) of this First Supplemental Indenture with respect to the Company occurs which is continuing at the end of the period; 

(4) the deposit does not constitute a default under any other agreement binding on the Company is not prohibited by
Article 9; 
 (5) the Company delivers to the Trustee an Opinion of Counsel to the effect that the trust
resulting from the deposit does not constitute, or is qualified as, a regulated investment company under the Investment Company Act of 1940; 

(6) in the case of the legal defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel
stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (B) since the date of this First Supplemental Indenture there has been a change in the applicable federal income tax
law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Securityholders will not recognize income, gain or loss for Federal income tax purposes as a result of such defeasance and will be subject to
Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such defeasance had not occurred; 

(7) in the case of the covenant defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel
to the effect that the Securityholders will not recognize income, gain or loss for Federal income tax purposes as a result of such covenant defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such covenant defeasance had not occurred; and 
 (8) the Company delivers
to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the Securities as contemplated by this Article 7 have been complied with. 

Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future
date in accordance with Article 3. 
 SECTION 7.04. Application of Trust Money. The Trustee shall hold in trust
money or U.S. Government Obligations deposited with it pursuant to this Article 7. It shall apply the deposited money and the money from U.S. Government Obligations through the Paying Agent and in accordance with the Indenture to the payment of
principal of and interest on the Securities. 
  

 76 

 SECTION 7.05. Repayment to Company. The Trustee and the Paying Agent shall
promptly turn over to the Company upon request any excess money or securities held by them at any time. 
 Subject to any
applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, Securityholders entitled
to the money must look to the Company for payment as general creditors. 
 SECTION 7.06. Indemnity for Government
Obligations. The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government
Obligations. 
 SECTION 7.07. Reinstatement. If the Trustee or Paying Agent is unable to apply any money or U.S.
Government Obligations in accordance with this Article 7 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the
Company’s obligations under the Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to this Article 7 until such time as the Trustee or Paying Agent is permitted to apply all such money or
U.S. Government Obligations in accordance with this Article 7; provided, however, that, if the Company has made any payment of interest on or principal of any Securities because of the reinstatement of its obligations, the Company shall be
subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. 

ARTICLE 8 

Amendments and Waivers 

SECTION 8.01. Original Indenture. Article IX of the Original Indenture shall not apply to the Securities and hereafter shall
be void and of no force and effect. 
 SECTION 8.02. Without Consent of Holders. The Company, the Subsidiary
Guarantors and the Trustee may amend this First Supplemental Indenture or the Securities without notice to or consent of any Securityholder: 

(1) to cure any ambiguity, omission, defect or inconsistency; 

(2) to comply with Article 5; 

(3) to provide for uncertificated Securities in addition to or in place of certificated Securities; provided,
however, that the uncertificated Securities are issued in registered form for purposes of Section 163(f) of the Code or in a manner such that the uncertificated Securities are described in Section 163(f)(2)(B) of the Code; 

 

 77 

 (4) to add Guarantees with respect to the Securities, including any
Subsidiary Guaranties, or to evidence the release of any Subsidiary Guarantor from its Subsidiary Guaranty as provided in this First Supplemental Indenture; 

(5) to secure the Securities or the Subsidiary Guaranties, including pursuant to the requirements of Section 4.12 of
this First Supplemental Indenture; 
 (6) to add to the covenants of the Company or a Subsidiary Guarantor for
the benefit of the Holders or to surrender any right or power herein conferred upon the Company or a Subsidiary Guarantor; 

(7) to make any change that does not adversely affect the rights of any Securityholder; 

(8) to conform the text of this First Supplemental Indenture, the Securities or the Guarantees to any provision of the
section entitled “Description of the notes” in the Prospectus to the extent that such provision such section was intended to be a verbatim recitation of a provision of this First Supplemental Indenture, the Securities or the Guaranties;

 (9) to comply with any requirement of the SEC in connection with qualifying, or maintaining the qualification
of, this First Supplemental Indenture under the Trust Indenture Act; or 
 (10) to make any amendment to the
provisions of this First Supplemental Indenture relating to the form, authentication, transfer and legending of Securities; provided, however, that (a) compliance with this First Supplemental Indenture as so amended would not result in
Securities being transferred in violation of the Securities Act or any other applicable securities law and (b) such amendment does not materially adversely affect the rights of Holders with respect to transfer of the Securities. 

After an amendment under this Section becomes effective, the Company shall mail or otherwise deliver in accordance with the procedures of
DTC to Securityholders a notice briefly describing such amendment. The failure to give such notice to all Securityholders, or any defect therein, shall not impair or affect the validity of an amendment under this Section. 

SECTION 8.03. With Consent of Holders. The Company, the Subsidiary Guarantors and the Trustee may amend this First
Supplemental Indenture or the Securities with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a tender offer or exchange offer for the
Securities) and any past default or non-compliance with any provisions may also be waived with the consent of the Holders of at least a majority in principal amount of the Securities outstanding. However, without the consent of each Securityholder
affected thereby, an amendment or waiver may not: 
 (1) reduce the amount of Securities whose Holders must
consent to an amendment; 
  

 78 

 (2) reduce the rate of or extend the time for payment of interest on any
Security; 
 (3) reduce the principal of or change the Stated Maturity of any Security; 

(4) change the provisions applicable to the redemption of any Security contained in Article 3 or Section 3.02 of this
First Supplemental Indenture; 
 (5) make any Security payable in money other than that stated in the Security;

 (6) impair the right of any Holder of the Securities to receive payment of principal of and interest on such
Holder’s Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Securities. 

(7) make any change in or waiver of the provisions of Sections 508 or 512 of the Original Indenture or Section 6.03
or this Section 8.03 of this First Supplemental Indenture; 
 (8) make any change in the ranking or priority
of any Security that would adversely affect the Securityholders; or 
 (9) release, other than in accordance with
this First Supplemental Indenture, any Subsidiary Guaranty that would adversely affect the Securityholders. 
 It shall not be
necessary for the consent of the Holders under this Section to approve the particular form of any proposed amendment, waiver or consent but it shall be sufficient if such consent approves the substance thereof. 

After an amendment under this Section becomes effective, the Company shall mail or otherwise deliver in accordance with the procedures of
DTC to Securityholders a notice briefly describing such amendment. The failure to give such notice to all Securityholders, or any defect therein, shall not impair or affect the validity of an amendment under this Section. 

SECTION 8.04. Compliance with Trust Indenture Act. Every amendment to this First Supplemental Indenture or the Securities
shall comply with the Trust Indenture Act as then in effect. 
 SECTION 8.05. Revocation and Effect of Consents and
Waivers. A consent to an amendment or a waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder’s Security, even if
notation of the consent or waiver is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s Security or portion of the Security if the Trustee receives the notice of
revocation before the date the amendment or waiver becomes effective. After an amendment or waiver becomes effective, it shall bind every Securityholder. An amendment or waiver becomes effective upon the execution of such amendment or waiver by the
Trustee. 
  

 79 

 The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Securityholders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this First Supplemental Indenture. If a record date is fixed, then notwithstanding the
immediately preceding paragraph, those Persons who were Securityholders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any
such action, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 

SECTION 8.06. Notation on or Exchange of Securities. If an amendment changes the terms of a Security, the Trustee may require
the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the Company
in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the validity of such amendment.

 SECTION 8.07. Trustee To Sign Amendments. The Trustee shall sign any amendment authorized pursuant to this
Article 8 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment the Trustee shall be entitled to receive indemnity
reasonably satisfactory to it and to receive, and (subject to Section 601 of the Original Indenture) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such amendment is authorized or
permitted by the Indenture and that such amendment is the legal, valid and binding obligation of the Company enforceable against it in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof (including
Section 8.04 of this First Supplemental Indenture). 
 SECTION 8.08. Payment for Consent. Neither the Company
nor any Affiliate of the Company shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or
provisions of this First Supplemental Indenture or the Securities unless such consideration is offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent,
waiver or agreement. 
 ARTICLE 9 

Subsidiary Guaranties 

SECTION 9.01. Guaranties. Each Subsidiary Guarantor hereby unconditionally and irrevocably guarantees, jointly and severally,
to each Holder and to the Trustee and its successors and assigns (a) the full payment of principal of and interest on the Securities when due, whether at maturity, by acceleration, by redemption or otherwise, and all other monetary obligations
of the Company under this First Supplemental Indenture and the Securities and (b) the full performance within applicable grace periods of all other obligations of the Company under this First Supplemental Indenture and the Securities (all the
foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Subsidiary Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from
such Subsidiary Guarantor and that such Subsidiary Guarantor will remain bound under this Article 9 notwithstanding any extension or renewal of any Guaranteed Obligation. 
  

 80 

 Each Subsidiary Guarantor waives presentation to, demand of, payment from and protest to the
Company of any of the Guaranteed Obligations and also waives notice of protest for nonpayment. Each Subsidiary Guarantor waives notice of any default under the Securities or the Guaranteed Obligations. The obligations of each Subsidiary Guarantor
hereunder shall not be affected by (1) the failure of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Company or any other Person (including any Subsidiary Guarantor) under the Indenture,
the Securities or any other agreement or otherwise; (2) any extension or renewal of any thereof; (3) any rescission, waiver, amendment or modification of any of the terms or provisions of the Indenture, the Securities or any other
agreement; (4) the release of any security held by any Holder or the Trustee for the Guaranteed Obligations or any of them; (5) the failure of any Holder or the Trustee to exercise any right or remedy against any other guarantor of the
Guaranteed Obligations; or (6) except as set forth in Section 9.06 of this First Supplemental Indenture, any change in the ownership of such Subsidiary Guarantor. 

Each Subsidiary Guarantor further agrees that its Subsidiary Guaranty herein constitutes a guarantee of payment, performance and
compliance when due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. 

Except as expressly set forth in Sections 7.02(b), 9.02 and 9.06 of this First Supplemental Indenture, the obligations of each Subsidiary
Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff,
counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Subsidiary Guarantor herein
shall not be discharged or impaired or otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under the Indenture, the Securities or any other agreement, by any waiver or modification of
any thereof, by any default, failure or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the
risk of such Subsidiary Guarantor or would otherwise operate as a discharge of such Subsidiary Guarantor as a matter of law or equity. 

Each Subsidiary Guarantor further agrees that its Guarantee herein shall continue to be effective or be reinstated, as the case may be,
if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of the Company or otherwise.

  

 81 

 In furtherance of the foregoing and not in limitation of any other right which any Holder or
the Trustee has at law or in equity against any Subsidiary Guarantor by virtue hereof, upon the failure of the Company to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by
acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Subsidiary Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in
cash, to the Holders or the Trustee an amount equal to the sum of (A) the unpaid amount of such Guaranteed Obligations, (B) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by law) and
(C) all other monetary Guaranteed Obligations of the Company to the Holders and the Trustee. 
 Each Subsidiary Guarantor
further agrees that, as between it, on the one hand, and the Holders and the Trustee, on the other hand, (i) the maturity of the Guaranteed Obligations may be accelerated as provided in Article 6 for the purposes of such Subsidiary
Guarantor’s Subsidiary Guaranty herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed Obligations, and (ii) in the event of any declaration of acceleration of such
Obligations as provided in Article 6, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by such Subsidiary Guarantor for the purposes of this Section. 

Each Subsidiary Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys’ fees) incurred by the
Trustee or any Holder in enforcing any rights under this Section. 
 SECTION 9.02. Limitation on Liability. Any term
or provision of the Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations by any Subsidiary Guarantor shall not exceed the maximum amount that can be hereby guaranteed without rendering the Indenture,
as it relates to such Subsidiary Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. 

SECTION 9.03. Successors and Assigns. This Article 9 shall be binding upon each Subsidiary Guarantor and its successors and
assigns and shall enure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in the
Indenture and in the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of the Indenture. 

SECTION 9.04. No Waiver. Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any
right, power or privilege under this Article 9 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the
Trustee and the Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article 9 at law, in equity, by statute or otherwise. 

 

 82 

 SECTION 9.05. Modification. No modification, amendment or waiver of any
provision of this Article 9, nor the consent to any departure by any Subsidiary Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective
only in the specific instance and for the purpose for which given. No notice to or demand on any Subsidiary Guarantor in any case shall entitle such Subsidiary Guarantor to any other or further notice or demand in the same, similar or other
circumstances. 
 SECTION 9.06. Release of Subsidiary Guarantor. A Subsidiary Guarantor will be released from its
obligations under this Article 9 (other than any obligation that may have arisen under Section 9.07 of this First Supplemental Indenture): 

(1) upon the sale or other disposition (including by way of consolidation or merger) of such Subsidiary Guarantor or
following which such Subsidiary Guarantor is no longer a Restricted Subsidiary; 
 (2) upon the sale or
disposition of all or substantially all the assets of such Subsidiary Guarantor; 
 (3) upon the designation of
such Subsidiary Guarantor as an Unrestricted Subsidiary in accordance with the terms of this First Supplemental Indenture; 

(4) at such time as such Subsidiary Guarantor does not have any Indebtedness outstanding that would have required such
Subsidiary Guarantor to enter into a Guaranty Agreement pursuant to Section 4.14 of this First Supplemental Indenture and the Company provides an Officers’ Certificate to the Trustee certifying that no such Indebtedness is outstanding and
that the Company elects to have such Subsidiary Guarantor released from this Article 9; 
 (5) upon defeasance of
the Securities or discharge of this First Supplemental Indenture pursuant to Article 7 of this First Supplemental Indenture; or 

(6) upon the liquidation or dissolution of any Subsidiary Guarantor, provided no Default or Event of Default has
occurred and is continuing; 
 provided, however, that in the case of clauses (1) and (2) above, (i) such sale or other
disposition is made to a Person other than the Company or a Subsidiary of the Company, (ii) such sale or disposition is otherwise permitted by this First Supplemental Indenture and (iii) the Company provides an Officers’ Certificate
to the Trustee to the effect that the Company will comply with its obligations under Section 4.07 of this First Supplemental Indenture. 

At the request of the Company, the Trustee shall execute and deliver an appropriate instrument evidencing such release. 

 

 83 

 SECTION 9.07. Contribution. Each Subsidiary Guarantor that makes a payment under
its Subsidiary Guaranty shall be entitled upon payment in full of all guarantied obligations under the Indenture to a contribution from each other Subsidiary Guarantor in an amount equal to such other Subsidiary Guarantor’s pro rata portion of
such payment based on the respective net assets of all the Subsidiary Guarantors at the time of such payment determined in accordance with GAAP. 

ARTICLE 10 

Miscellaneous 

SECTION 10.01. Communication by Holders with Other Holders. Securityholders may communicate pursuant to Trust Indenture Act
§ 312(b) with other Securityholders with respect to their rights under the Indenture or the Securities. The Company, any Subsidiary Guarantor, the Trustee, the Registrar and anyone else shall have the protection of Trust Indenture Act
§ 312(c). 
 SECTION 10.02. When Securities Disregarded. In determining whether the Holders of the
required principal amount of Securities have concurred in any direction, waiver or consent, Securities owned by the Company or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the
Company shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which the Trustee knows are so
owned shall be so disregarded. Also, subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. 

SECTION 10.03. No Recourse Against Others. Section 114 of the Original Indenture shall not apply to the Securities and
hereafter shall be void and of no force and effect and any reference in the Original Indenture to Section 114 thereof shall be deemed to refer to this Section 10.03 of this First Supplemental Indenture. No past, present or future director,
officer, employee, incorporator or stockholder, of the Company or any Subsidiary Guarantor will have any liability for any obligations of the Company or any Subsidiary Guarantor under the Securities, any Subsidiary Guaranty, or the Indenture or for
any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder by accepting a Security shall waive and releases all such liability. The waiver and release shall be part of the consideration for issuance of the
Securities. 
 SECTION 10.04. Effect of Headings and Table of Contents. The Article and Section headings herein and
the Table of Contents are for convenience only and shall not affect the construction hereof. 
 SECTION
10.05. Successors and Assigns. All covenants and agreements in the Indenture by the Company shall bind its successors and assigns, whether so expressed or not. All agreements of the Trustee in the Indenture shall bind its successors and
assigns, whether so expressed or not. 
  

 84 

 SECTION 10.06. Separability Clause. In case any provision in this First
Supplemental Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 10.07. Governing Law. This First Supplemental Indenture and the Securities shall be governed by, and construed in
accordance with, the law of the State of New York. 
 SECTION 10.08. Rules by Trustee, Paying Agent and Registrar.
The Trustee may make reasonable rules for action by or a meeting of Securityholders. The Registrar and the Paying Agent may make reasonable rules for their functions. 

SECTION 10.09. No Adverse Interpretation of Other Agreements. This First Supplemental indenture may not be used to interpret
any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other Person, other than the Original Indenture. Other than the Original Indenture, no such indenture, loan or debt agreement may be used to interpret this
First Supplemental Indenture 
 SECTION 10.10. Multiple Originals. The parties may sign any number of copies of this
First Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this First Supplemental Indenture. 

 

 85 

 IN WITNESS WHEREOF, the parties have caused this First Supplemental Indenture to be duly
executed as of the date first written above. 
  

			
	EXCO RESOURCES, INC.,
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	Vice President, General
		 	Counsel and Secretary
	
	EXCO SERVICES, INC.

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	Vice President, General
		 	Counsel and Secretary
	
	EXCO PARTNERS GP, LLC

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	Vice President, General
		 	Counsel and Secretary
	
	EXCO GP PARTNERS OLD, LP
	
	By:  EXCO PARTNERS GP, LLC, its general partner

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	 Vice President, General

Counsel and Secretary

	
	EXCO PARTNERS OLP GP, LLC

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	 Vice President, General

Counsel and Secretary

			
	EXCO OPERATING COMPANY, LP
	
	By:  EXCO PARTNERS OLP GP, LLC
	its general partner

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	 Vice President, General

Counsel and Secretary

	
	VERNON GATHERING, LLC

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	 Vice President, General

Counsel and Secretary

	
	EXCO MIDCONTINENT MLP, LLC

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	 Vice President, General

Counsel and Secretary

	
	EXCO HOLDING (PA), INC.

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	Vice President and Secretary
	
	EXCO PRODUCTION COMPANY (PA), LLC

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	Vice President and Secretary

  

 2 

			
	EXCO PRODUCTION COMPANY (WV), LLC

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	Vice President and Secretary
	
	EXCO EQUIPMENT LEASING, LLC

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	 Vice President, General

Counsel and Secretary

	
	EXCO RESOURCES (XA), LLC

			
		
	By	 	       /s/ William L.
Boeing

			
	Name:	 	William L. Boeing
	Title:	 	Vice President and Secretary

  

 3 

			
	 WILMINGTON TRUST COMPANY, as Trustee

		
	 By
	 	 /s/ W. Thomas Morris, II

	 Name:
	 	W. Thomas Morris, II
	 Title:
	 	Vice President

  

 4 

 EXHIBIT A 

[FORM OF FACE OF SECURITY] 

[Global Securities Legend] 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE COMPANY 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 IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL
BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

			
	No.             	 	$             

 

									
		  		  		  	CUSIP:	  	[            
]1
		  		  		  	ISIN:	  	[            
]2

7.500% Senior Notes Due 2018 

EXCO Resources, Inc., a Texas corporation, promises to pay to “Cede & Co.”, or registered assigns, the principal sum
of Dollars on September 15, 2018. 
 Interest Payment Dates: March 15 and September 15. 

Record Dates: March 1 and September 1. 

Additional provisions of this Security are set forth on the other side of this Security. 

 

	1
	 CUSIP: 269279AD7 

	2
	 ISIN: US269279AD75 

 IN WITNESS HEREOF, the Company has caused this instrument to be duly executed. 

Dated:                     ,
20     
  

			
	EXCO RESOURCES, INC.
		
	By	 	  

	Name:	 	
	Title:	 	

  

 2 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

WILMINGTON TRUST COMPANY 
 as
Trustee, certifies that this is one of the Securities referred to in the Indenture. 
 Dated: 

 

			
	By	 	  

		 	Authorized Signatory

  

 3 

 [FORM OF REVERSE SIDE OF SECURITY] 

7.500% Senior Note Due 2018 
 1.
Interest 
 EXCO Resources, Inc., a Texas corporation (such corporation, and its successors and assigns under the
Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of this Security at the rate per annum shown above. Interest on the Securities will accrue from the most recent date to
which interest has been paid or, if no interest has been paid, from September 15, 2010. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Company will pay interest on overdue principal at the rate borne by
this Security plus 1.0% per annum, and it will pay interest on overdue installments of interest at the same rate to the extent lawful. 

2. Method of Payment 

The Company will pay interest on the Securities (except defaulted interest) to the Persons who are registered holders of Securities at the
close of business on the March 1 or September 1 next preceding the interest payment date even if Securities are canceled after the record date and on or before the interest payment date. Holders must surrender Securities to a Paying Agent
to collect principal payments. The Company will pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public and private debts. Payments in respect of the Securities represented by a
Global Security (including principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the accounts specified by Global Security Holder. The Company will make all payments of principal, interest and
premium, if any, with respect to certificated Securities by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the
Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion) or, if no such account is specified, by mailing a
check to each such Holder’s registered address. 
 3. Paying Agent and Registrar 

Initially, Wilmington Trust Company, a Delaware banking corporation (the “Trustee”), will act as Paying Agent and Security
Registrar. The Company may appoint and change any Paying Agent, Security Registrar or co-registrar without notice. The Company or any of its domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent, Security Registrar or
co-registrar. 
 4. Indenture 

First Supplemental Indenture dated as of September 15, 2010, (the “First Supplemental Indenture”) among the Company, the
Subsidiary Guarantors and the Trustee from time to time party hereto and the Trustee, and the Company and the Trustee executed and delivered an Indenture, dated as of September 15, 2010 (the “Original Indenture”, together with the
First Supplemental Indenture, the “Indenture”). The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C.
§§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “Act”). Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Securities are subject to all such terms,
and Securityholders are referred to the Indenture and the Act for a statement of those terms. 
  

 4 

 The Securities are senior obligations of the Company. The Company shall be entitled, subject
to its compliance with Section 4.05 of the First Supplemental Indenture, to issue Additional Securities pursuant to Section 1.01 of the First Supplemental Indenture. The Securities issued on the Issue Date and any Additional Securities
will be treated as a single class for all purposes under the Indenture. The Indenture contains covenants that limit the ability of the Company and its subsidiaries to incur additional indebtedness; pay dividends or distributions on, or redeem or
repurchase capital stock; make investments; engage in transactions with affiliates; create liens on assets; transfer or sell assets; guarantee indebtedness; restrict dividends or other payments of subsidiaries; consolidate, merge or transfer all or
substantially all of its assets and the assets of its subsidiaries; and engage in sale/leaseback transactions. These covenants are subject to important exceptions and qualifications. 

5. Optional Redemption 

The Company shall be entitled to redeem the Securities as set forth in Section 3.02 of the First Supplemental Indenture. 

6. [Reserved] 
 7. Put Provisions

 Upon a Change of Control Repurchase Event, any Holder of Securities will have the right to cause the Company to repurchase all
or any part of the Securities of such Holder at a repurchase price in cash equal to 101% of the principal amount of the Securities to be repurchased plus accrued interest to the date of repurchase (subject to the right of holders of record on the
relevant record date to receive interest due on the related interest payment date) as provided in, and subject to the terms of, the Indenture. 

The Company may be required to make an offer to purchase Securities in the event of an Asset Disposition as set forth in Section 4.8
of the Indenture. 
 8. Guaranty 

The payment by the Company of the principal of, and premium and interest on, the Securities is fully and unconditionally guaranteed on a
joint and several senior basis by each of the Subsidiary Guarantors to the extent set forth in the Indenture. 
 9. Denominations; Transfer;
Exchange 
 The Securities are in registered form without coupons in denominations of $2,000 principal amount and whole
multiples of $1,000. A Holder may transfer or exchange Securities in accordance with the Indenture. The Security Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes and
fees required by law or permitted by the Indenture. The Security Registrar need not register the transfer of or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security
not to be redeemed) or any Securities for a period of 15 days before a selection of Securities to be redeemed or 15 days before an interest payment date. 
  

 5 

 10. Persons Deemed Owners 

The registered Holder of this Security may be treated as the owner of it for all purposes. 

11. Unclaimed Money 
 If
money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at its request unless an abandoned property law designates another Person. After any such payment to
the Company, Holders entitled to the money must look only to the Company and not to the Trustee for payment. 
 12. Discharge and
Defeasance 
 Subject to certain conditions, the Company at any time shall be entitled to terminate some or all of its
obligations under the Securities and the Indenture if the Company deposits with the Trustee money or U.S. Government Obligations for the payment of principal and interest on the Securities to redemption or maturity, as the case may be. 

13. Amendment, Waiver 

Subject to certain exceptions set forth in the Indenture, (a) the Indenture and the Securities may be amended with the written
consent of the Holders of at least a majority in principal amount outstanding of the Securities (including consents obtained in connection with a tender offer or exchange offer for Securities) and (b) any past default or noncompliance with any
provision may be waived with the written consent of the Holders of a majority in principal amount outstanding of the Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any Securityholder, the Company, the
Subsidiary Guarantors and the Trustee shall be entitled to amend the Indenture or the Securities to cure any ambiguity, omission, defect or inconsistency, or to comply with Article 5 of the First Supplemental Indenture, or to provide for
uncertificated Securities in addition to or in place of certificated Securities, or to add guarantees with respect to the Securities, including Subsidiary Guaranties, or to evidence the release of any Subsidiary Guarantor as provided in the First
Supplemental Indenture or to secure the Securities or the Subsidiary Guaranties, or to add additional covenants of or surrender rights and powers conferred on the Company or the Subsidiary Guarantors, or to conform the text of the First Supplemental
Indenture, the Securities or the Guarantees to any provision of the section entitled “Description of the notes” in the Prospectus dated September 10, 2010 in certain cases, or to comply with any requirement of the SEC in connection
with qualifying or maintaining the qualifications of the Indenture under the Act, or to make any change that does not adversely affect the rights of any Securityholder, or to make any amendment to the provisions of the First Supplemental Indenture
relating to the form, authentication, transfer and legending of Securities in certain cases. 
  

 6 

 14. Defaults and Remedies 

Under the Indenture, Events of Default include (a) default for 30 days in payment of interest on the Securities; (b) default in
payment of principal on the Securities at maturity, upon redemption pursuant to paragraph 5 of the Securities, upon acceleration or otherwise, or failure by the Company to redeem or purchase Securities when required; (c) failure by the Company,
or any Subsidiary Guarantor to comply with other agreements in the Indenture or the Securities, in certain cases subject to notice and lapse of time; (d) certain accelerations (including failure to pay within any grace period after final
maturity) of other Indebtedness of the Company if the amount accelerated (or so unpaid) exceeds $25.0 million (e) certain events of bankruptcy or insolvency with respect to the Company and the Significant Subsidiaries; (f) certain
judgments or decrees for the payment of money in excess of $25.0 million; and (g) certain defaults with respect to Subsidiary Guaranties. If an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal
amount of the Securities may declare all the Securities to be due and payable immediately. Certain events of bankruptcy or insolvency are Events of Default which will result in the Securities being due and payable immediately upon the occurrence of
such Events of Default. 
 Securityholders may not enforce the Indenture or the Securities except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Securities unless it receives indemnity or security satisfactory to it. Subject to certain limitations, Holders of a majority in principal amount of the Securities may direct the Trustee in its
exercise of any trust or power. The Trustee may withhold from Securityholders notice of any continuing Default (except a Default in payment of principal or interest) if and so long as it determines that withholding notice is in the interest of the
Holders. 
 15. Trustee Dealings with the Company 

Subject to certain limitations imposed by the Act, the Trustee under the Indenture, in its individual or any other capacity, may become
the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee.

 16. No Recourse Against Others 

No past, present or future director, officer, employee, incorporator or stockholder, of the Company or any Subsidiary Guarantor will have
any liability for any obligations of the Company or any Subsidiary Guarantor under the Securities, any Subsidiary Guaranty, or the Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. By accepting a
Security, each Securityholder waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 
  

 7 

 17. Authentication 

This Security shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) manually signs the certificate
of authentication on the other side of this Security. 
 18. Abbreviations 

Customary abbreviations may be used in the name of a Securityholder or an assignee, such as TEN COM (=tenants in common), TEN ENT
(=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

19. CUSIP Numbers 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures the Company has caused CUSIP
numbers to be printed on the Securities and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Securityholders. No representation is made as to the accuracy of such numbers either as printed on the Securities
or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
 20.
Governing Law. 
 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 The Company will furnish to any Securityholder upon written request and without charge to the Security holder a copy of the
Indenture which has in it the text of this Security. Requests may be made to: 
 EXCO Resources, Inc. 

12377 Merit Drive, Suite 1700 
 Dallas, TX 75251

 Attention: General Counsel 
  

 8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 

I or we assign and transfer this Security to 

(Print or type assignee’s name, address and zip code) 

(Insert assignee’s soc. sec. or tax I.D. No.) 

and irrevocably appoint                      agent to
transfer this Security on the books of the Company. The agent may substitute another to act for him. 
  

									
	Date:	 	  
	 		 	Your Signature:	 	  

Sign exactly as your name appears on the other side of this Security. 

 

 9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 4.08 or 4.11 of the First Supplemental
Indenture, check the box: 
 If you want to elect to have only part of this Security purchased by the Company pursuant to
Section 4.08 or 4.11 of the First Supplemental Indenture, state the amount in principal amount: $              

 

									
	Date:	 	  
	 		 	Your Signature:	 	  

		 		 		 		 	(Sign exactly as your name appears on the other side of this Security.)

  

			
	Signature Guarantee:	  	  

		  	(Signature must be guaranteed)

 Signatures must be
guaranteed by an “eligible guarantor institution” meeting the requirements of the Security Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined by the Security Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global 

Security have been made: 
  

									
	 Date of Exchange
	 	 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 officer

of Trustee or

Securities

Custodian

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}]]