Document:

ex_192665.htm

Exhibit 4.2

 

 

 

Form of Indenture

 

 

 

VAXART, INC.

 

as ISSUER

 

and

 

______________________________________

 

As INDENTURE TRUSTEE

 

 

 

INDENTURE

 

Dated as of __________, _____

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENTS

 

	
			ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE  

				
			1

			
	
			Section 1.01

				
			Definitions.

				
			1

			
	
			Section 1.02

				
			Other Definitions.

				
			4

			
	
			Section 1.03

				
			Incorporation by Reference of Trust Indenture Act.

				
			4

			
	
			Section 1.04

				
			Rules of Construction.

				
			4

			
	
			ARTICLE II TILE SECURITIES  

				
			5

			
	
			Section 2.01

				
			Issuable in Series.

				
			5

			
	
			Section 2.02

				
			Establishment of Terms of Series of Securities.

				
			5

			
	
			Section 2.03

				
			Execution and Authentication.

				
			7

			
	
			Section 2.04

				
			Registrar and Paying Agent.

				
			7

			
	
			Section 2.05

				
			Paying Agent to Hold Money in Trust.

				
			7

			
	
			Section 2.06

				
			Holder Lists.

				
			8

			
	
			Section 2.07

				
			Transfer and Exchange.

				
			8

			
	
			Section 2.08

				
			Mutilated, Destroyed, Lost and Stolen Securities.

				
			8

			
	
			Section 2.09

				
			Outstanding Securities.

				
			9

			
	
			Section 2.10

				
			Treasury Securities.

				
			9

			
	
			Section 2.11

				
			Temporary Securities.

				
			9

			
	
			Section 2.12

				
			Cancellation.

				
			9

			
	
			Section 2.13

				
			Defaulted Interest.

				
			9

			
	
			Section 2.14

				
			Global Securities

				
			9

			
	
			Section 2.15

				
			CUSIP Numbers

				
			10

			
	
			ARTICLE III REDEMPTION  

				
			11

			
	
			Section 3.01

				
			Notice to Trustee.

				
			11

			
	
			Section 3.02

				
			Selection of Securities to be Redeemed.

				
			11

			
	
			Section 3.03

				
			Notice of Redemption.

				
			11

			
	
			Section 3.04

				
			Effect of Notice of Redemption.

				
			12

			
	
			Section 3.05

				
			Deposit of Redemption Price.

				
			12

			
	
			Section 3.06

				
			Securities Redeemed in Part.

				
			12

			
	
			ARTICLE IV COVENANTS  

				
			12

			
	
			Section 4.01

				
			Payment of Principal and Interest.

				
			12

			
	
			Section 4.02

				
			SEC Reports.

				
			12

			
	
			Section 4.03

				
			Compliance Certificate.

				
			12

			
	
			Section 4.04

				
			Stay, Extension and Usury Laws.

				
			13

			
	
			ARTICLE V SUCCESSORS  

				
			13

			
	
			Section 5.01

				
			When Company May Merge, Etc.

				
			13

			
	
			Section 5.02

				
			Successor Corporation Substituted.

				
			13

			
	
			ARTICLE VI DEFAULTS AND REMEDIES  

				
			13

			
	
			Section 6.01

				
			Events of Default.

				
			13

			
	
			Section 6.02

				
			Acceleration of Maturity; Rescission and Annulment.

				
			14

			
	
			Section 6.03

				
			Collection of Indebtedness and Suits for Enforcement by Trustee.

				
			14

			
	
			Section 6.04

				
			Trustee May File Proofs of Claim.

				
			15

			
	
			Section 6.05

				
			Trustee May Enforce Claims Without Possession of Securities.

				
			15

			
	
			Section 6.06

				
			Application of Money Collected.

				
			15

			
	
			Section 6.07

				
			Limitation on Suits.

				
			16

			
	
			Section 6.08

				
			Unconditional Right of Holders to Receive Principal and Interest.

				
			16

			
	
			Section 6.09

				
			Restoration of Rights and Remedies.

				
			16

			
	
			Section 6.10

				
			Rights and Remedies Cumulative.

				
			17

			
	
			Section 6.11

				
			Delay or Omission Not Waiver.

				
			17

			
	
			Section 6.12

				
			Control by Holders.

				
			17

			
	
			Section 6.13

				
			Waiver of Past Defaults.

				
			17

			
	
			Section 6.14

				
			Undertaking for Costs.

				
			17

			
	
			ARTICLE VII TRUSTEE  

				
			18

			
	
			Section 7.01

				
			Duties of Trustee.

				
			18

			
	
			Section 7.02

				
			Rights of Trustee.

				
			19

			

 

 

 

 

	
			Section 7.03

				
			Individual Rights of Trustee.

				
			19

			
	
			Section 7.04

				
			Trustee’s Disclaimer.

				
			19

			
	
			Section 7.05

				
			Notice of Defaults.

				
			20

			
	
			Section 7.06

				
			Reports by Trustee to Holders.

				
			20

			
	
			Section 7.07

				
			Compensation and Indemnity.

				
			20

			
	
			Section 7.08

				
			Replacement of Trustee.

				
			20

			
	
			Section 7.09

				
			Successor Trustee by Merger, etc.

				
			21

			
	
			Section 7.10

				
			Eligibility; Disqualification.

				
			21

			
	
			Section 7.11

				
			Preferential Collection of Claims Against Company.

				
			21

			
	
			ARTICLE VIII SATISFACTION AND DISCHARGE; DEFEASANCE  

				
			21

			
	
			Section 8.01

				
			Satisfaction and Discharge of Indenture.

				
			21

			
	
			Section 8.02

				
			Application of Trust Funds; Indemnification.

				
			22

			
	
			Section 8.03

				
			Legal Defeasance of Securities of any Series.

				
			22

			
	
			Section 8.04

				
			Covenant Defeasance.

				
			23

			
	
			Section 8.05

				
			Repayment to Company.

				
			24

			
	
			Section 8.06

				
			Reinstatement.

				
			24

			
	
			ARTICLE IX AMENDMENTS AND WAIVERS  

				
			25

			
	
			Section 9.01

				
			Without Consent of Holders.

				
			25

			
	
			Section 9.02

				
			With Consent of Holders.

				
			25

			
	
			Section 9.03

				
			Limitations.

				
			26

			
	
			Section 9.04

				
			Compliance with Trust Indenture Act.

				
			26

			
	
			Section 9.05

				
			Revocation and Effect of Consents.

				
			26

			
	
			Section 9.06

				
			Notation on or Exchange of Securities.

				
			27

			
	
			Section 9.07

				
			Trustee Protected.

				
			27

			
	
			ARTICLE X MISCELLANEOUS  

				
			27

			
	
			Section 10.01

				
			Trust Indenture Act Controls.

				
			27

			
	
			Section 10.02

				
			Notices.

				
			27

			
	
			Section 10.03

				
			Communication by Holders with Other Holders.

				
			28

			
	
			Section 10.04

				
			Certificate and Opinion as to Conditions Precedent.

				
			28

			
	
			Section 10.05

				
			Statements Required in Certificate or Opinion.

				
			28

			
	
			Section 10.06

				
			Rules by Trustee and Agents.

				
			28

			
	
			Section 10.07

				
			Legal Holidays.

				
			28

			
	
			Section 10.08

				
			No Recourse Against Others.

				
			28

			
	
			Section 10.09

				
			Counterparts.

				
			29

			
	
			Section 10.10

				
			Governing Laws.

				
			29

			
	
			Section 10.11

				
			No Adverse Interpretation of Other Agreements.

				
			29

			
	
			Section 10.12

				
			Successors.

				
			29

			
	
			Section 10.13

				
			Severability.

				
			29

			
	
			Section 10.14

				
			Table of Contents, Headings, Etc.

				
			29

			
	
			Section 10.15

				
			Securities in a Foreign Currency.

				
			29

			
	
			Section 10.16

				
			Judgment Currency.

				
			30

			
	
			ARTICLE XI SINKING FUNDS  

				
			30

			
	
			Section 11.01

				
			Applicability of Article.

				
			30

			
	
			Section 11.02

				
			Satisfaction of Sinking Fund Payments with Securities.

				
			30

			
	
			Section 11.03

				
			Redemption of Securities for Sinking Fund.

				
			31

			

 

 

 

 

 

Reconciliation and tie between the Trust Indenture Act of 1939 and this Indenture

 

	
			Section 310

				
			(a)(1)

				
			7.10

			
	
			 

				
			(a)(2)

				
			7.10

			
	
			 

				
			(a)(3)

				
			Not Applicable

			
	
			 

				
			(a)(4)

				
			Not Applicable

			
	
			 

				
			(a)(5)

				
			7.10

			
	
			 

				
			(b)

				
			7.10

			
	
			Section 311

				
			(a)

				
			7.11

			
	
			 

				
			(b)

				
			7.11

			
	
			 

				
			(c)

				
			Not Applicable

			
	
			Section 312

				
			(a)

				
			2.06

			
	
			 

				
			(b)

				
			10.03

			
	
			 

				
			(c)

				
			10.03

			
	
			Section 313

				
			(a)

				
			7.06

			
	
			 

				
			(b)(1)

				
			7.06

			
	
			 

				
			(b)(2)

				
			7.06

			
	
			 

				
			(c)(1)

				
			7.06

			
	
			 

				
			(d)

				
			7.06

			
	
			Section 314

				
			(a)

				
			4.02,10.05

			
	
			 

				
			(b)

				
			Not Applicable

			
	
			 

				
			(c)(1)

				
			10.04

			
	
			 

				
			(c)(2)

				
			10.04

			
	
			 

				
			(c)(3)

				
			Not Applicable

			
	
			 

				
			(d)

				
			Not Applicable

			
	
			 

				
			(e)

				
			10.05

			
	
			 

				
			(f)

				
			Not Applicable

			
	
			Section 315

				
			(a)

				
			7.01

			
	
			 

				
			(b)

				
			7.05

			
	
			 

				
			(c)

				
			7.01, 7.05, 7.07

			
	
			 

				
			(d)

				
			7.01

			
	
			 

				
			(e)

				
			6.14

			
	
			Section 316

				
			(a)

				
			2.09

			
	
			 

				
			(a)(1)(a)

				
			6.12

			
	
			 

				
			(a)(1)(b)

				
			6.13

			
	
			 

				
			(b)

				
			6.08

			
	
			Section 317

				
			(a)(1)

				
			6.03

			
	
			 

				
			(a)(2)

				
			6.04

			
	
			 

				
			(b)

				
			2.05

			
	
			Section 318

				
			(a)

				
			10.01

			

 

 

 

 

 

Indenture dated as of                            ,              between Vaxart, Inc., a Delaware corporation (“Company”), and                                        , a                                               corporation, as trustee (“Trustee”).

 

Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture.

 

ARTICLE I

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.01 Definitions.

 

“Additional Amounts” means any additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders.

 

“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” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities or by agreement or otherwise.

 

“Agent” means any Registrar, Paying Agent or Service Agent.

 

“Applicable Procedures” means, with respect to any transfer or transaction involving a Global Security or beneficial interest therein, the rules and procedures of DTC or any successor Depositary, in each case to the extent applicable to such transaction and as in effect from time to time.

 

“Authorized Newspaper” means a newspaper in an official language of the country of publication customarily published at least once a day for at least five days in each calendar week and of general circulation in the place in connection with which the term is used. If it shall be impractical in the opinion of the Trustee to make any publication of any notice required hereby in an Authorized Newspaper, any publication or other notice in lieu thereof that is made or given by the Trustee shall constitute a sufficient publication of such notice.

 

“Bearer” means anyone in possession from time to time of a Bearer Security.

 

“Bearer Security” means any Security, including any interest coupon appertaining thereto, that does not provide for the identification of the Holder thereof.

 

“Board of Directors” means the Board of Directors of the Company or any duly authorized committee thereof.

 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee.

 

“Business Day” means, unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for a particular Series, any day except a Saturday, Sunday or a legal holiday in New York, New York on which banking institutions are authorized or required by law, regulation or executive order to close.

 

“Capital Interests” means any and all shares, interests, participations, rights or other equivalents (however designated) of capital stock, including, without limitation, with respect to partnerships, partnership interests (whether general or limited) and any other interest or participation that confers on a person the right to receive a share of the profits and losses of or distributions of assets of, such partnership.

 

1

 

 

“Company” means the party named as such above until a successor replaces it and thereafter means the successor.

 

“Company Order” means a written order signed in the name of the Company by two Officers, one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer.

 

“Company Request” means a written request signed in the name of the Company by its Chief Executive Officer, Chief Financial Officer or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee.

 

“Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business shall be principally administered.

 

“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default.

 

“Depository” means, with respect to the Securities of any Series issuable or issued in whole or part in the form of one or more Global Securities, the person designated as Depositary for such Series by the Company, which Depository shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such person, “Depository” as used with respect to the Securities of any Series shall mean the Depository with respect to the Securities of such Series.

 

“Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02.

 

“Dollars” and “$” means the currency of the United States of America.

 

“DTC” means the Depository Trust Company, a New York corporation.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Foreign Currency” means any currency or currency unit issued by a government other than the government of the United States of America.

 

“Foreign Government Obligations” means, with respect to Securities of any Series that are denominated in a Foreign Currency, (i) direct obligations of the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged or (ii) obligations of a person controlled or supervised by or acting as an agency or instrumentality of such government the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by such government, which, in either case under clauses (i) or (ii), are not callable or redeemable at the option of the issuer thereof.

 

“GAAP” means generally accepted accounting principles promulgated by the Financial Accounting Standards Board or by such other entity as the SEC may designate for that purpose.

 

“Global Security” or “Global Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.02 evidencing all or part of a Series of Securities, issued to the Depository for such Series or its nominee, and registered in the name of such Depository or nominee.

 

“Holder” means a person in whose name a Security is registered or the holder of a Bearer Security.

 

“Indenture” means this Indenture as amended or supplemented from time to time and shall include the form and terms of particular Series of Securities established as contemplated hereunder.

 

“interest” with respect to any Discount Security which by its terms bears interest only after Maturity means interest payable after Maturity.

 

2

 

 

“Maturity” when used with respect to any Security or installment of principal thereof means the date on which the principal of such Security or such 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.

 

“Officer” means the Chief Executive Officer, Chief Financial Officer, any Vice-President, the Treasurer, the Secretary, any Assistant Treasurer or any Assistant Secretary of the Company.

 

“Officers’ Certificate” means a certificate signed by two Officers, one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer.

 

“Opinion of Counsel” means a written opinion of legal counsel who is reasonably acceptable to the Trustee. The counsel may be an employee of or counsel to the Company.

 

“person” means any individual, corporation, partnership, joint venture, association, limited liability company, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

 

“principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in respect of the Security.

 

“Responsible Officer” means any officer of the Trustee in its Corporate Trust Office with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with a particular subject.

 

“SEC” means the United States Securities and Exchange Commission.

 

“Securities” means the debentures, notes or other debt instruments of the Company of any Series authenticated and delivered under this Indenture.

 

“Series” or “Series of Securities” means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.01 and 2.02 hereof.

 

“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 or other business entity of which more than 50% of the total voting power of shares of Capital Interests entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof or, in the case of a partnership, more than 50% of the partners’ Capital Interests (considering all partners’ Capital Interests as a single class), is at the time owned or controlled, directly or indirectly, by such person or one or more of the other Subsidiaries of such person or combination thereof.

 

“TIA” means the Trust Indenture Act of 1939 (15 U.S. Code Sections 77aaa-77bbbb) as in effect on the date of this Indenture and the rules and regulations promulgated thereunder, provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust Indenture Act as so amended.

 

“Trustee” means the person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean each person who is then a Trustee hereunder, and if at any time there is more than one such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series.

 

3

 

 

“U.S. Government Obligations” means securities which are (i) direct obligations of the United States of America for the payment of which its full faith and credit is pledged or (ii) obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, and which are not callable or redeemable at the option of the issuer thereof and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt, 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 depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by such depository receipt.

 

Section 1.02 Other Definitions.

 

	
			TERM

				
			 

				
			DEFINED IN SECTION

			
	
			“Bankruptcy Law”

				
			 

				
			6.01

			
	
			“Custodian”

				
			 

				
			6.01

			
	
			“Event of Default”

				
			 

				
			6.01

			
	
			“Judgment Currency”

				
			 

				
			10.16

			
	
			“Legal Holiday”

				
			 

				
			10.07

			
	
			“mandatory sinking fund payment”

				
			 

				
			11.01

			
	
			“Market Exchange Rate”

				
			 

				
			10.15

			
	
			“New York Banking Day”

				
			 

				
			10.16

			
	
			“optional sinking fund payment”

				
			 

				
			11.01

			
	
			“Paying Agent”

				
			 

				
			2.04

			
	
			“Registrar”

				
			 

				
			2.04

			
	
			“Required Currency”

				
			 

				
			10.16

			
	
			“Service Agent”

				
			 

				
			2.04

			
	
			“successor person”

				
			 

				
			5.01

			

 

Section 1.03 Incorporation by Reference of Trust Indenture Act.

 

  Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings:

 

“Commission” means the SEC.

 

“indenture securities” means the Securities.

 

“indenture security holder” means a Holder.

 

“indenture to be qualified” means this Indenture.

 

“indenture trustee” or “institutional trustee” means the Trustee.

 

“obligor” on the indenture securities means the Company and any successor obligor upon the Securities.

 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by a SEC rule under the TIA and not otherwise defined herein are used herein as so defined.

 

Section 1.04 Rules of Construction.

 

Unless the context otherwise requires:

 

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

 

4

 

 

(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with generally accepted accounting principles;

 

(c) references to “generally accepted accounting principles” and “GAAP” shall mean generally accepted accounting principles in effect as of the time when and for the period as to which such accounting principles are to be applied;

 

(d) ”or” is not exclusive;

 

(e) words in the singular include the plural, and in the plural include the singular; and

 

(f) provisions apply to successive events and transactions.

 

ARTICLE II

THE SECURITIES

 

Section 2.01 Issuable in Series.

 

  The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series shall be identical except as may be set forth or determined in the manner provided in a Board Resolution, supplemental indenture or Officers’ Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution. In the case of Securities of a Series to be issued from time to time, the Board Resolution, Officers’ Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined. Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture.

 

Section 2.02 Establishment of Terms of Series of Securities.

 

  At or prior to the issuance of any Securities within a Series, the following shall be established (as to the Series generally, in the case of Subsection 2.02(a) and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.02(b) through 2.02(s) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution, supplemental indenture or an Officers’ Certificate:

 

(a) the form and title of the Series (which shall distinguish the Securities of that particular Series from the Securities of any other Series);

 

(b) the price or prices (expressed as a percentage of the principal amount thereof) at which the Securities of the Series will be issued;

 

(c) any limit upon 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 2.07, 2.08, 2.11, 3.06 or 9.06);

 

(d) the date or dates on which the principal of the Securities of the Series is payable;

 

(e) the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date;

 

(f) the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be served, and the method of such payment, if by wire transfer, mail or other means;

 

5

 

 

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

 

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

 

(i) the dates, if any, on which and the price or prices at which the Securities of the Series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations;

 

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

 

(k) if other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02;

 

(l) the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, and the agency or organization, if any, responsible for overseeing such composite currency;

 

(m) the provisions, if any, relating to any security provided for the Securities of the Series;

 

(n) any addition to 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 6.02;

 

(o) any addition to or change in the covenants set forth in Articles IV or V which applies to Securities of the Series;

 

(p) the provisions, if any, relating to conversion of any Securities of such Series, including, if applicable, the securities into which the Securities are convertible, the conversion price, the conversion period, provisions as to whether conversion will be mandatory, at the option of the Holders or at the option of the Company, the events requiring an adjustment of the conversion price and provisions affecting conversion if such Series of Securities are redeemed;

 

(q) whether the Securities of such Series will be senior debt securities or subordinated debt securities and, if applicable, a description of the subordination terms thereof;

 

(r) any depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of such Series if other than those appointed herein; and

 

(s) any other terms of the Securities of the Series (which may modify or delete any provision of this Indenture insofar as it applies to such Series).

 

  All Securities of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, and, unless otherwise provided in such Board Resolution, a Series may be reopened, without the consent of the Holders, for increases in the aggregate principal amount of such Series and issuances of additional Securities of such Series.

 

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Section 2.03 Execution and Authentication.

 

  Two Officers shall sign the Securities for the Company by manual or facsimile signature. If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall nevertheless be valid. A Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or Officers’ Certificate, upon receipt by the Trustee of a Company Order. Such Company Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its duly authorized agent or agents, which oral instructions shall be promptly confirmed in writing. Each Security shall be dated the date of its authentication unless otherwise provided by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate. The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit placed upon the principal amount for such Series set forth in the applicable Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section 2.02, except as provided in Section 2.02 or 2.08. Prior to the issuance of Securities of any Series, the Trustee shall have received and, subject to Section 7.02, shall be fully protected in relying on: (a) the Board Resolution, supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the Securities of that Series or of Securities within that Series, (b) an Officers’ Certificate complying with Section 10.04 and (c) an Opinion of Counsel complying with Section 10.04. The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken lawfully; or (b) if the Trustee’s board of directors or trustees, executive committee or a trust committee of directors and/or vice-presidents shall determine in good faith that such action would expose the Trustee to personal liability to Holders of any then outstanding Series of Securities. The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of the Company.

 

Section 2.04 Registrar and Paying Agent.

 

  The Company shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such Series pursuant to Section 2.02, an office or agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be served (“Service Agent”). The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange. The Company will give prompt written notice to the Trustee of the name and address, and any change in the name or address, of each Registrar, Paying Agent or Service Agent. If at any time the Company shall fail to maintain any such required Registrar, Paying Agent or Service Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. The Company may also from time to time designate one or more co-registrars, additional paying agents or additional service agents 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 obligations to maintain a Registrar, Paying Agent and Service Agent in each place so specified pursuant to Section 2.02 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 name or address of any such co-registrar, additional paying agent or additional service agent. The term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional paying agent; and the term “Service Agent” includes any additional service agent. The Company hereby appoints the Trustee the initial Registrar, Paying Agent and Service Agent for each Series unless another Registrar, Paying Agent or Service Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued.

 

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Section 2.05 Paying Agent to Hold Money in Trust.

 

  The Company shall require each Paying Agent, other than the Trustee, to agree in writing that the Paying Agent will hold in trust, for the benefit of Holders of any Series of Securities or the Trustee, all money held by the Paying Agent for the payment of the principal of or the interest on the Series of Securities, and will notify the Trustee of any default by the Company in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company may, at any time, require a Paying Agent to pay all money held by it to the Trustee. Upon payment to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for such money. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund, for the benefit of Holders of any Series of Securities, all money held by it as Paying Agent.

 

Section 2.06 Holder Lists.

 

  The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Holders of each Series of Securities and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least ten (10) 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 each Series of Securities.

 

Section 2.07 Transfer and Exchange.

 

  Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and exchanges, the Trustee shall authenticate Securities at the Registrar’s request. No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Section 2.11, 3.06 or 9.06). Neither the Company nor the Registrar shall be required (a) to issue, register the transfer of or exchange Securities of any Series for the period beginning at the opening of business fifteen days immediately preceding the mailing of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on the day of such mailing, or (b) to register the transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in part.

 

Section 2.08 Mutilated, Destroyed, Lost and Stolen Securities.

 

(a) If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and make available for delivery 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 (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) 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 protected purchaser, the Company shall execute and, upon its request, the Trustee shall authenticate and make available for delivery, 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.

 

(b) Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. Every new Security of any Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the 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 that Series duly issued hereunder. The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.

 

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Section 2.09 Outstanding Securities.

 

The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding. If a Security is replaced pursuant to Section 2.08, it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a protected purchaser. If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of the Company) holds on the Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue. A Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security. In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.02.

 

Section 2.10 Treasury Securities.

 

In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request, demand, authorization, direction, notice, consent or waiver, Securities of a Series owned by the Company shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver, only Securities of a Series that the Trustee knows are so owned shall be so disregarded.

 

Section 2.11 Temporary Securities.

 

Until definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee upon request shall authenticate definitive Securities of the same Series and date of maturity in exchange for temporary Securities. Until so exchanged, temporary securities shall have the same rights under this Indenture as the definitive Securities.

 

Section 2.12 Cancellation.

 

The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee shall cancel all Securities surrendered for registration of transfer, exchange, payment, replacement or cancellation in accordance with its customary procedures and deliver such canceled Securities to the Company, unless the Company otherwise directs; provided that the Trustee shall not be required to destroy Securities. The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation.

 

Section 2.13 Defaulted Interest.

 

If the Company defaults in a payment of interest on a Series of Securities, it shall pay the defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted interest, to the persons who are Holders of the Series on a subsequent special record date. The Company shall fix the record date and payment date. At least ten (10) days before the record date, the Company shall mail to the Trustee and to each Holder of the Series a notice that states the record date, the payment date and the amount of interest to be paid. The Company may pay defaulted interest in any other lawful manner.

 

Section 2.14 Global Securities

 

(a) Terms of Securities. A Board Resolution, a supplemental indenture hereto or an Officers’ Certificate shall establish whether the Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depository for such Global Security or Securities.

 

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(b) Transfer and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.07 of the Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.07 of the Indenture for Securities registered in the names of Holders other than the Depository for such Security or its nominee only if (i) such Depository notifies the Company that it is unwilling or unable to continue as Depository for such Global Security or if at any time such Depository ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depository registered as a clearing agency under the Exchange Act within 90 days of such event, (ii) the Company executes and delivers to the Trustee an Officers’ Certificate to the effect that such Global Security shall be so exchangeable or (iii) an Event of Default with respect to the Securities represented by such Global Security shall have happened and be continuing. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the Depository shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security with like tenor and terms.

 

(c) Except as provided in this Section 2.14(c), a Global Security may not be transferred except as a whole by the Depository with respect to such Global Security to a nominee of such Depository, by a nominee of such Depository to such Depository or another nominee of such Depository or by the Depository or any such nominee to a successor Depository or a nominee of such a successor Depository.

 

(d) Legend. Any Global Security issued hereunder shall bear a legend in substantially the following form:

 

(e) ”This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of the Depository or a nominee of the Depository. This Security is exchangeable for Securities registered in the name of a person other than the Depository or its nominee only in the limited circumstances described in the Indenture, and may not be transferred except as a whole by the Depository to a nominee of the Depository, by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or any such nominee to a successor Depository or a nominee of such a successor Depository.”

 

(f) Acts of Holders. The Depository, as a Holder, may appoint agents and otherwise authorize participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture.

 

(g) Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.02, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof.

 

(h) Consents, Declaration and Directions. Except as provided in Section 2.14(g), the Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified in a written statement of the Depository with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture.

 

(i) The Depository or its nominee, as registered owner of a Global Security, shall be the Holder of such Global Security for all purposes under the Indenture and the Securities, and owners of beneficial interests in a Global Security shall hold such interests pursuant to the Applicable Procedures. Accordingly, any such owner’s beneficial interest in a Global Security will be shown only on, and the transfer of such interest shall be effected only through, records maintained by the Depositary or its nominee and such owners of beneficial interests in a Global Security will not be considered the owners or holders thereof.

 

Section 2.15  CUSIP Numbers.

 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; 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 or as contained in any notice of a redemption and that reliance may be placed only on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee of any change in “CUSIP” numbers of which the Company becomes aware.

 

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ARTICLE III

REDEMPTION

 

Section 3.01 Notice to Trustee.

 

The Company may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a Series of Securities is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee of the redemption date and the principal amount of Series of Securities to be redeemed.

 

Section 3.02 Selection of Securities to be Redeemed.

 

Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture or an Officers’ Certificate, if less than all the Securities of a Series are to be redeemed, the Trustee shall select the Securities of the Series to be redeemed in any manner that the Trustee deems fair and appropriate. The Trustee shall make the selection from Securities of the Series outstanding not previously called for redemption. The Trustee may select for redemption portions of the principal of Securities of the Series that have denominations larger than $1,000. Securities of the Series and portions of them it selects shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities of any Series issuable in other denominations pursuant to Section 2.02(j), the minimum principal denomination for each Series and integral multiples thereof Provisions of this Indenture that apply to Securities of a Series called for redemption also apply to portions of Securities of that Series called for redemption.

 

Section 3.03 Notice of Redemption.

 

(a) Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, at least 30 days but not more than 60 days before a redemption date, the Company shall send or cause to be sent, by electronic delivery, if held at DTC, or by first class mail postage prepaid, a notice of redemption to each Holder whose Securities are to be redeemed and, if any Bearer Securities are outstanding, publish on one occasion a notice in an Authorized Newspaper. The notice shall identify the Securities of the Series to be redeemed and shall state:

 

(i) the redemption date;

 

(ii) the redemption price;

 

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

 

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

 

(v) that interest on Securities of the Series called for redemption ceases to accrue on and after the redemption date;

 

(vi) the CUSIP number, if any; and

 

(vii)   any other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed.

 

At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at its expense.

 

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Section 3.04 Effect of Notice of Redemption.

 

  Once notice of redemption is sent, mailed or published as provided in Section 3.03, Securities of a Series called for redemption become due and payable on the redemption date and at the redemption price. A notice of redemption may not be conditional. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date; provided that installments of interest whose Stated Maturity is on or prior to the redemption date shall be payable to the Holders of such Securities (or one or more predecessor Securities) registered at the close of business on the relevant record date therefor according to their terms and the terms of this Indenture.

 

Section 3.05 Deposit of Redemption Price.

 

  On or before 10:00 a.m., New York City time, on the redemption date, the Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date.

 

Section 3.06 Securities Redeemed in Part.

 

  Upon surrender of a Security that is redeemed in part, the Trustee shall authenticate for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered.

 

ARTICLE IV

COVENANTS

 

Section 4.01 Payment of Principal and Interest.

 

  The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it will duly and punctually pay the principal of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture.

 

Section 4.02 SEC Reports.

 

  The Company shall, so long as any of the Securities are outstanding, electronically file with the Commission the annual, quarterly and other periodic reports that the Company is required to file with the Commission pursuant to Sections 13 and 15(d) of the Exchange Act. The Company also shall comply with the other provisions of TIA Section 314(a). Delivery of any reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on an Officers’ Certificate).

 

Section 4.03 Compliance Certificate.

 

  The Company shall, so long as any of the Securities are outstanding, deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officers’ Certificate stating whether or not to the knowledge of the signers thereof the Company is in default in the performance and observance of any of the terms, provisions and conditions hereof (without regard to any period of grace or requirement of notice provided hereunder), and if a Default or Event of Default shall have occurred, specifying all such Defaults or Events of Default and the nature and status thereof of which they may have knowledge. The Company shall, so long as any of the Securities are outstanding, deliver to the Trustee, within thirty (30) days after becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto.

 

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Section 4.04 Stay, Extension and Usury Laws.

 

  The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead or in any manner whatsoever claim or take the benefit or advantage of any stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture or the Securities and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law, 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 has been enacted.

 

ARTICLE V

SUCCESSORS

 

Section 5.01 When Company May Merge, Etc.

 

  The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets to, any person (a “successor person”) unless:

 

(a) the Company is the surviving corporation or the successor person (if other than the Company) is organized and validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the Securities and under this Indenture; and

 

(b) immediately after giving effect to the transaction, no Default or Event of Default shall have occurred and be continuing.

 

The Company shall deliver to the Trustee prior to the consummation of the proposed transaction an Officers’ Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this Indenture.

 

Section 5.02 Successor Corporation Substituted.

 

  Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.01, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of the Company under this Indenture with the same effect as if such successor person has been named as the Company herein; provided, however, that the predecessor Company in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations and covenants under this Indenture and the Securities.

 

ARTICLE VI

DEFAULTS AND REMEDIES

 

Section 6.01 Events of Default.

 

“Event of Default,” wherever used herein with respect to Securities of any Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture or Officers’ Certificate, it is provided that such Series shall not have the benefit of said Event of Default:

 

(a) default in the payment of any interest on any Security of that Series when it becomes due and payable, and continuance of such default for a period of thirty (30) days (unless the entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to the expiration of such period of thirty (30) days);

 

(b) default in the payment of principal of any Security of that Series at its Maturity;

 

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(c) default in the performance or breach of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty for which the consequences of nonperformance or breach are addressed elsewhere in this Section 6.01 and other than a covenant or warranty that has been included in this Indenture solely for the benefit of Series of Securities other than that Series), which default continues uncured for a period of ninety (90) days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of not less than a majority in principal amount of the outstanding Securities of that Series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder;

 

(d) the Company pursuant to or within the meaning of any Bankruptcy Law. (i) commences a voluntary case or proceeding; (ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property, (iv)makes a general assignment for the benefit of its creditors, or (v) makes an admission by writing that it is generally unable to pay its debts as the same become due;

 

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

 

(f) any other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, in accordance with Section 2.02(n).

 

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

 

Section 6.02 Acceleration of Maturity; Rescission and Annulment.

 

  If an Event of Default with respect to Securities of any Series at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(d) or (e)), then in every such case the Trustee or the Holders of not less than a majority in principal amount of the outstanding Securities of that Series may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that Series 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) and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding 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 Holder. At any time after such a declaration of acceleration with respect to 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 provided, the Holders of a majority in principal amount of the outstanding Securities of that Series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if all Events of Default with respect to Securities of that Series, other than the non-payment of the principal and interest, if any, of Securities of that Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13. No such rescission shall affect any subsequent Default or impair any right consequent thereon.

 

Section 6.03 Collection of Indebtedness and Suits for Enforcement by Trustee.

 

The Company covenants that if:

 

(a) 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

 

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(b) default is made in the payment of principal of any Security at the Maturity thereof, then 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 interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and 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 the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or deemed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated.

 

If an Event of Default with respect to any 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 6.04 Trustee May File Proofs of Claim.

 

  In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, (a) to file and prove a claim for the whole amount of principal and interest owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and (b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same, and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

Section 6.05 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 shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.

 

Section 6.06 Application of Money Collected.

 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 

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First: To the payment of all amounts due the Trustee under Section 7.07; and

 

Second: To the payment of the amounts then due and unpaid for principal of 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 interest, respectively; and

 

Third: To the Company.

 

Section 6.07 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 or trustee, or for any other remedy hereunder, unless:

 

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

 

(b) the Holders of at least a majority in principal amount of the outstanding Securities of that 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,

 

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

 

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

 

(e) 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 principal amount of the outstanding Securities of that 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 such Holders.

 

Section 6.08 Unconditional Right of Holders to Receive Principal and Interest.

 

  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 interest, if any, on such Security on the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder.

 

Section 6.09 Restoration of Rights and Remedies.

 

  If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding 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.

 

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Section 6.10 Rights and Remedies Cumulative.

 

  Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.08, 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, to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 6.11 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 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 6.12 Control by Holders.

 

  The Holders of a majority in 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:

 

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

 

(b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and

 

(c) subject to the provisions of Section 6.01, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability.

 

Section 6.13 Waiver of Past Defaults.

 

  The Holders of not less than a majority in 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 (i) in the payment of the principal of or interest on any Security of such Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration) or (ii) in respect of a covenant or provision hereof which 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 6.14 Undertaking for Costs.

 

  All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on or after the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the redemption date).

 

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ARTICLE VII

TRUSTEE

 

Section 7.01 Duties of Trustee.

 

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.

 

(b) Except during the continuance of an Event of Default:

 

(i) The Trustee need perform only those duties that are specifically set forth in this Indenture and no others.

 

(ii) In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon Officers’ Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any such Officers’ Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officers’ Certificates and Opinions of Counsel to determine whether or not they conform to the requirements of this Indenture.

 

(c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that:

 

(i) This paragraph does not limit the effect of paragraph (b) of this Section.

 

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

 

(iii) The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding Securities of such Series 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.

 

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraph (a), (b) and (c) of this Section.

 

(e) The Trustee may refuse to perform any duty or exercise any right or power at the request or direction of any Holder unless it receives indemnity satisfactory to it against any loss, liability or expense.

 

(f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

 

(g) No provision of this Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance of any of its duties, 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 is not reasonably assured to it.

 

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(h) The Paying Agent, the Registrar and any Service Agent or authenticating agent shall be entitled to the protections, immunities and standard of care as are set forth in paragraphs (a), (b) and (c) of this Section with respect to the Trustee.

 

Section 7.02 Rights of Trustee.

 

(a) The Trustee may rely on and shall be protected in acting or refraining from acting upon any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document.

 

(b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate.

 

(c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. No Depository shall be deemed an agent of the Trustee, and the Trustee shall not be responsible for any act or omission by any Depository.

 

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers, provided that the Trustee’s conduct does not constitute negligence or bad faith.

 

(e) The Trustee may consult with counsel, and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without negligence and in good faith and in reliance thereon.

 

(f) 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 of Securities unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

 

(g) 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.

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

 

(i) The permissive rights of the Trustee enumerated herein shall not be construed as duties.

 

Section 7.03 Individual Rights of Trustee.

 

  The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is also subject to Sections 7.10 and 7.11.

 

Section 7.04 Trustee’s Disclaimer.

 

  The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it shall not be responsible for any statement in the Securities other than its authentication.

 

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Section 7.05 Notice of Defaults.

 

  If a Default or Event of Default occurs and is continuing with respect to the Securities of any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Holder of the Securities of that Series and, if any Bearer Securities are outstanding, publish on one occasion in an Authorized Newspaper, notice of a Default or Event of Default within ninety (90) days after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of such Default or Event of Default. Except in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Holders of that Series.

 

Section 7.06 Reports by Trustee to Holders.

 

  Within sixty (60) days after May 15 in each year, the Trustee shall transmit by mail to all Holders, as their names and addresses appear on the register kept by the Registrar and, if any Bearer Securities are outstanding, publish in an Authorized Newspaper, a brief report dated as of such May 15, in accordance with, and to the extent required under, TIA Section 313. A copy of each report at the time of its mailing to Holders of any Series shall be filed with the SEC and each stock exchange on which the Securities of that Series are listed. The Company shall promptly notify the Trustee when Securities of any Series are listed on any stock exchange.

 

Section 7.07 Compensation and Indemnity.

 

  The Company shall pay to the Trustee from time to time compensation for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel. The Company shall indemnify each of the Trustee and any predecessor Trustee against any loss, liability or expense (including the cost of defending itself), including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it except as set forth in this Section 7.07 in the performance of its duties under this Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee. The Company need not reimburse any expense or indemnify against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through the negligence or bad faith of any such persons. To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest on particular Securities of that Series. When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(d) or (e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. The provisions of this Section shall survive the resignation or removal of the Trustee and the termination of this Indenture.

 

Section 7.08 Replacement of Trustee.

 

  A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. The Trustee may resign with respect to the Securities of one or more Series by so notifying the Company at least 30 days prior to the date of the proposed resignation. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and the Company. The Company may remove the Trustee with respect to Securities of one or more Series if:

 

(a) the Trustee fails to comply with Section 7.10;

 

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(b) the Trustee is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law,

 

(c) a Custodian or public officer takes charge of the Trustee or its property; or

 

(d) the Trustee becomes incapable of acting.

 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a successor Trustee.

 

If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least a majority in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a successor Trustee.

 

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a notice of its succession to each Holder of each such Series and, if any Bearer Securities are outstanding, publish such notice on one occasion in an Authorized Newspaper. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by it prior to the date of such replacement.

 

Section 7.09 Successor Trustee by Merger, etc.

  If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee.

 

Section 7.10 Eligibility; Disqualification.

 

  This Indenture shall always have a Trustee who satisfies the requirements of TIA Section 310(a)(1), (2) and (5). The Trustee shall comply with TIA Section 310(b).

 

Section 7.11 Preferential Collection of Claims Against Company.

 

  The Trustee is subject to TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated.

 

ARTICLE VIII

SATISFACTION AND DISCHARGE; DEFEASANCE

 

Section 8.01 Satisfaction and Discharge of Indenture.

 

This Indenture shall upon Company Order cease to be of further effect (except as hereinafter provided in this Section 8.01), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when

 

(a) any of the following shall have occurred:

 

(i) no Securities have been issued hereunder,

 

(ii) all Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced or paid) have been delivered to the Trustee for cancellation; or

 

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(iii) all such Securities not theretofore delivered to the Trustee for cancellation (1) have become due and payable, or (2) will become due and payable at their Stated Maturity within one year, or (3) 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 has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust an amount sufficient for the purpose of paying and discharging the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and interest to the date of such deposit (in the case of Securities which have become due and payable on or prior to the date of such deposit) or to the Stated Maturity or redemption date, as the case may be;

 

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

 

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

 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.07 and, if money shall have been deposited with the Trustee pursuant to clause (a) of this Section, the provisions of Sections 2.04 , 2.05 , 2.07, 2.08, 8.01, 8.02 and 8.05 shall survive.

 

Section 8.02 Application of Trust Funds; Indemnification.

 

(a) Subject to the provisions of Section 8.05, all money deposited with the Trustee pursuant to Section 8.01, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.03 or 8.04 and all money received by the Trustee in respect of U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.03 or 8.04, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (other than the Company acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money has been deposited with or received by the Trustee or analogous payments as contemplated by Sections 8.03 or 8.04.

 

(b) The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations deposited pursuant to Sections 8.03 or 8.04 or the interest and principal received in respect of such obligations other than any payable by or on behalf of Holders.

 

(c) The Trustee shall deliver or pay to the Company from time to time upon Company Request any U.S. Government Obligations or Foreign Government Obligations or money held by it as provided in Sections 8.03 or 8.04 which, in the opinion of a nationally recognized firm of independent certified public accountants expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or Foreign Government Obligations or money were deposited or received. This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or Foreign Government Obligations held under this Indenture.

 

Section 8.03 Legal Defeasance of Securities of any Series.

 

  Unless this Section 8.03 is otherwise specified, pursuant to Section 2.02(s), to be inapplicable to Securities of any Series, the Company shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit referred to in subparagraph (d) hereof and the provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, at Company Request, execute proper instruments acknowledging the same), except as to:

 

(a) the rights of Holders of Securities of such Series to receive, from the trust funds described in subparagraph (d) hereof, (i) payment of the principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Stated Maturity of such principal or installment of principal or interest, and (ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such Series; and

 

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(b) the provisions of Sections 2.04, 2.05, 2.07, 2.08, 8.02, 8.03 and 8.05; and

 

(c) the rights, powers, trust and immunities of the Trustee hereunder, provided that, the following conditions shall have been satisfied:

 

(d) with reference to this Section 8.03, the Company shall have deposited or caused to be irrevocably deposited (except as provided in Section 8.02(c)) with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of all the Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are due;

 

(e) such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound;

 

(f) no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date;

 

(g) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this 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 Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amounts and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred;

 

(h) the Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders of the Securities of such Series over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company;

 

(i) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to the defeasance contemplated by this Section have been complied with; and

 

(j) such defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the Investment Company Act of 1940, as amended, unless such trust shall be registered under such Act or exempt from registration thereunder.

 

Section 8.04 Covenant Defeasance.

 

  Unless this Section 8.04 is otherwise specified, pursuant to Section 2.02(s), to be inapplicable to Securities of any Series, on and after the 91st day after the date of the deposit referred to in subparagraph (a) hereof; the Company may omit to comply with respect to the Securities of any Series with any term, provision or condition set forth under Sections 4.02, 4.03, and 5.01 as well as any additional covenants specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officers’ Certificate delivered pursuant to Section 2.02 (and the failure to comply with any such covenants shall not constitute a Default or Event of Default with respect to such Series under Section 6.01) and the occurrence of any event specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officers’ Certificate delivered pursuant to Section 2.02 and designated as an Event of Default shall not constitute a Default or Event of Default hereunder, with respect to the Securities of such Series, provided that the following conditions shall have been satisfied:

 

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(a) with reference to this Section 8.04, the Company has deposited or caused to be irrevocably deposited (except as provided in Section 8.02(c)) with the Trustee as trust funds in trust for the purpose of making the following payments specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent certified public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of the Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are due;

 

(b) such deposit will not result in a breach or violation of or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound;

 

(c) no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date;

 

(d) the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that Holders of the Securities of such Series will not recognize income, gain or loss for federal income tax purposes as a result of such deposit and 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 deposit and covenant defeasance had not occurred;

 

(e) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with; and

 

(f) Such defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the Investment Company Act of 1940, as amended, unless such trust shall be registered under such Act or exempt from registration thereunder.

 

Section 8.05 Repayment to Company.

 

  The Trustee and the Paying Agent shall pay to the Company upon written request any money held by them for the payment of principal and interest that remains unclaimed for two years, and after such time, Holders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person.

 

Section 8.06 Reinstatement.

 

  If the Trustee or the Paying Agent is unable to apply any money deposited with respect to Securities of any series in accordance with Section 8.01 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 obligations of the Company under this Indenture with respect to the Securities of such series and under the Securities of such series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 8.01; provided, however, that if the Company has made any payment of principal of, premium (if any) or interest on any Additional Amounts with respect to 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 held by the Trustee or the Paying Agent.

 

24

 

 

ARTICLE IX

AMENDMENTS AND WAIVERS

 

Section 9.01 Without Consent of Holders.

 

  The Company and the Trustee may amend or supplement this Indenture or the Securities of one or more Series without the consent of any Holder:

 

(a) to evidence the succession of another person to the Company under this Indenture and the Securities and the assumption by any such successor person of the obligations of the Company hereunder and under the Securities;

 

(b) to add or remove covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included for the benefit of such series) or to surrender any right or power herein conferred upon the Company provided such action does not adversely affect the interests of the Company;

 

(c) to add any additional Events of Default;

 

(d) 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 bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form;

 

(e) 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 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 such Security Outstanding;

 

(f) to establish the forms or terms of the Securities of any series issued pursuant to the terms hereof;

 

(g) to cure any ambiguity or correct any inconsistency in this Indenture;

 

(h) 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;

 

(i) to qualify this Indenture under the Trust Indenture Act;

 

(j) to provide for uncertificated securities in addition to certificated securities;

 

(k) to supplement any provisions of this Indenture necessary to permit or facilitate the defeasance and discharge of any series of Securities, provided that such action does not adversely affect the interests of the Holders of Securities of such series or any other series; and

 

(l) to comply with the rules or regulations of any securities exchange or automated quotation system on which any of the Securities may be listed or traded.

 

Section 9.02 With Consent of Holders.

 

  The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in 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 offer for the Securities of such Series), for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of each such Series. Except as provided in Section 6.13, the Holders of at least a majority in principal amount of the outstanding Securities of any Series by notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series) may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series. It shall not be necessary for the consent of the Holders of Securities under this Section 9.02 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver under this section becomes effective, the Company shall mail to the Holders of Securities affected thereby and, if any Bearer Securities affected thereby are outstanding, publish on one occasion in an Authorized Newspaper, a notice briefly describing the supplemental indenture or waiver. Any failure by the Company to mail or publish such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver.

 

25

 

 

Section 9.03 Limitations.

 

  Without the consent of each Holder affected, an amendment or waiver may not:

 

(a) reduce the amount of Securities whose Holders must consent to an amendment, supplement or waiver;

 

(b) reduce the rate of or extend the time for payment of interest (including default interest) on any Security;

 

(c) reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation;

 

(d) reduce the principal amount of Discount Securities payable upon acceleration of the maturity thereof;

 

(e) waive a Default or Event of Default in the payment of the principal of or interest, if any, on any Security (except a rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment default that resulted from such acceleration);

 

(f) make the principal of or interest, if any, on any Security payable in any currency other than that stated in the Security;

 

(g) make any change in Sections 6.08, 6.13, or 9.03; or

 

(h) waive a redemption payment with respect to any Security.

 

Section 9.04 Compliance with Trust Indenture Act.

 

Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that complies with the TIA as then in effect.

 

Section 9.05 Revocation and Effect of Consents.

 

Until an amendment is set forth in a supplemental indenture or a waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date of the supplemental indenture or the date the waiver becomes effective. Any amendment or waiver once effective shall bind every Holder of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through (h) of Section 9.03. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security.

 

26

 

 

Section 9.06 Notation on or Exchange of Securities.

 

The Trustee may place an appropriate notation about an amendment or waiver on any Security of any Series thereafter authenticated. The Company in exchange for Securities of that Series may issue and the Trustee shall authenticate upon request new Securities of that Series that reflect the amendment or waiver.

 

Section 9.07 Trustee Protected.

 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, in addition to the documents required by Section 10.04, and (subject to Section 7.01) 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. The Trustee shall sign all supplemental indentures, except that the Trustee need not sign any supplemental indenture that adversely affects its rights.

 

ARTICLE X

MISCELLANEOUS

 

Section 10.01 Trust Indenture Act Controls.

 

If any provision of this Indenture limits, qualifies or conflicts with another provision which is required or deemed to be included in this Indenture by the TIA, such required or deemed provision shall control.

 

Section 10.02 Notices.

 

(a) Any notice or communication by the Company or the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in writing and delivered in person or mailed by first-class mail addressed as follows:

 

if to the Company:

 

Vaxart, Inc.

385 Oyster Point Blvd., Suite 9A

South San Francisco, CA 94080

(650) 550-3500

 

if to the Trustee:

 

[         ]

 

(b) The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. Any notice or communication to a Holder shall be mailed by first-class mail to his address shown on the register kept by the Registrar and, if any Bearer Securities are outstanding, published in an Authorized Newspaper. Failure to mail a notice or communication to a Holder of any Series or any defect in it shall not affect its sufficiency with respect to other Holders of that or any other Series. If a notice or communication is mailed or published in the manner provided above, within the time prescribed, it is duly given, whether or not the Holder receives it. If the Company mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time.

 

(c) Any notice or demand that by any provision of this Indenture is required or permitted to be given or served by the Company may, at the Company’s written request received by the Trustee not fewer than five (5) Business Days prior (or such shorter period of time as may be acceptable to the Trustee) to the date on which such notice must be given or served, be given or served by the Trustee in the name of and at the expense of the Company.

 

27

 

 

Section 10.03 Communication by Holders with Other Holders.

 

Holders of any Series may communicate pursuant to TIA Section 312(b) with other Holders of that Series or any other Series with respect to their rights under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA Section 312(c).

 

Section 10.04 Certificate and Opinion as to Conditions Precedent.

 

Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee:

 

(a) an Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and

 

(b) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

 

Section 10.05 Statements Required in Certificate or Opinion.

 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA Section 314(a)(4)) shall comply with the provisions of TIA Section 314(e) and shall include:

 

(a) a statement that the person making such certificate or opinion has read such covenant or condition;

 

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

 

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

 

(d) a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with.

 

Section 10.06 Rules by Trustee and Agents.

 

The Trustee may make reasonable rules for action by or a meeting of Holders of one or more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions.

 

Section 10.07 Legal Holidays.

 

Unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for a particular Series, a “Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period.

 

Section 10.08 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 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 waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities.

 

28

 

 

Section 10.09 Counterparts.

 

This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

 

Section 10.10 Governing Laws.

 

This Indenture and the Securities will be governed by, and construed in accordance with, the internal laws of the State of New York, without regard to conflict of law principles that would result in the application of any law other than the laws of the State of New York.

 

Section 10.11 No Adverse Interpretation of Other Agreements.

 

This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture.

 

Section 10.12 Successors.

 

All agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor.

 

Section 10.13 Severability.

 

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 10.14 Table of Contents, Headings, Etc.

 

The Table of Contents, Cross-Reference Table, and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

 

Section 10.15 Securities in a Foreign Currency.

 

Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate delivered pursuant to Section 2.02 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any Series which are denominated in a coin or currency other than Dollars, then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be that amount of Dollars that could be obtained for such amount at the Market Exchange Rate at such time. For purposes of this Section 10.15, “Market Exchange Rate” shall mean the noon Dollar buying rate in New York City for cable transfers of that currency as published by the Federal Reserve Bank of New York. If such Market Exchange Rate is not available for any reason with respect to such currency, the Trustee shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New York as of the most recent available date, or quotations from one or more major banks in The City of New York or in the country of issue of the currency in question or such other quotations as the Trustee, upon consultation with the Company, shall deem appropriate. The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture. All decisions and determinations of the Trustee regarding the Market Exchange Rate or any alternative determination provided for in the preceding paragraph shall be in its sole discretion and shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Company and all Holders.

 

29

 

 

Section 10.16 Judgment Currency.

 

The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close.

 

ARTICLE XI

SINKING FUNDS

 

Section 11.01 Applicability of Article.

 

The provisions of this Article shall be applicable to any sinking fund for the retirement of the Securities of a Series, except as otherwise permitted or required by any form of Security of such Series issued pursuant to this Indenture. The minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is herein referred to as a “mandatory sinking fund payment” and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any Series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.02. Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided for by the terms of the Securities of such Series.

 

Section 11.02 Satisfaction of Sinking Fund Payments with Securities.

 

The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any Series to be made pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such Securities previously called for mandatory sinking fund redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been repurchased by the Company or redeemed either at the election of the Company pursuant to the terms of such Series of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been previously so credited. Such Securities shall be received by the Trustee, together with an Officers’ Certificate with respect thereto, not later than 15 days prior to the date on which the Trustee begins the process of selecting Securities for redemption, and shall be credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. If as a result of the delivery or credit of Securities in lieu of cash payments pursuant to this Section 11.02, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such Series for redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of Securities of that Series purchased by the Company having an unpaid principal amount equal to the cash payment required to be released to the Company.

 

30

 

 

Section 11.03 Redemption of Securities for Sinking Fund.

 

Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental indenture or Officers’ Certificate in respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that Series, 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 of Securities of that Series pursuant to Section 11.02, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated to pay the amount therein specified. Not less than 30 days (unless otherwise indicated in the Board Resolution, Officers’ Certificate or supplemental indenture in respect of a particular Series of Securities) before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 3.03. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.04, 3.05 and 3.06.

 

31

 

 

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.

 

 

 

	
			 

				
			VAXART, INC.

			
	
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

			
	
			 

				
			By:

				
			 

			
	
			 

				
			 

				
			Name:

			
	
			 

				
			 

				
			Title:

			
	
			 

				
			 

				
			 

			
	
			 

				
			[ ], as Trustee

			
	
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

			
	
			 

				
			By:

				
			 

			
	
			 

				
			 

				
			Name:

			
	
			 

				
			 

				
			Title:

			

 

1EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
  

 
  

FIRST INDUSTRIAL, L.P. 

FIRST INDUSTRIAL REALTY TRUST, INC. 

$300,000,000 
 2.74% Series F
Guaranteed Senior Notes due September 17, 2030 
 2.84% Series G Guaranteed Senior Notes due September 17, 2032 

 
  

NOTE AND GUARANTY AGREEMENT 

 
  

Dated as of July 7, 2020 
  

 
  

 TABLE OF CONTENTS 

 

							
	 Section
	 		    	 	Page	 
		
	SECTION 1.         AUTHORIZATION OF NOTES.	    	 	1	 
		
	SECTION 2.         SALE AND PURCHASE OF NOTES; GUARANTY.	    	 	1	 
			
	 Section 2.1.
	 	 Sale and Purchase of Notes
	    	 	1	 
	 Section 2.2.
	 	 Guaranty
	    	 	1	 
		
	SECTION 3.         EXECUTION; CLOSING.	    	 	2	 
		
	SECTION 4.        CONDITIONS TO CLOSING.	    	 	2	 
			
	 Section 4.1.
	 	 Representations and Warranties
	    	 	2	 
	 Section 4.2.
	 	 Performance; No Default
	    	 	2	 
	 Section 4.3.
	 	 Compliance Certificates.
	    	 	3	 
	 Section 4.4.
	 	 Opinions of Counsel
	    	 	3	 
	 Section 4.5.
	 	 Purchase Permitted By Applicable Law, Etc
	    	 	3	 
	 Section 4.6.
	 	 Sale of Other Notes
	    	 	4	 
	 Section 4.7.
	 	 Payment of Special Counsel Fees
	    	 	4	 
	 Section 4.8.
	 	 Private Placement Numbers
	    	 	4	 
	 Section 4.9.
	 	 Changes in Corporate Structure; Change in Control
	    	 	4	 
	 Section 4.10.
	 	 Funding Instructions
	    	 	4	 
	 Section 4.11.
	 	 Proceedings and Documents
	    	 	4	 
		
	SECTION 5.         REPRESENTATIONS AND WARRANTIES OF THE ISSUER AND THE GENERAL PARTNER.	    	 	4	 
			
	 Section 5.1.
	 	 Organization; Power and Authority
	    	 	5	 
	 Section 5.2.
	 	 Authorization, Etc
	    	 	5	 
	 Section 5.3.
	 	 Disclosure
	    	 	5	 
	 Section 5.4.
	 	 Organization and Ownership of Shares of Subsidiaries; Affiliates
	    	 	6	 
	 Section 5.5.
	 	 Financial Statements; Material Liabilities
	    	 	7	 
	 Section 5.6.
	 	 Compliance with Laws, Other Instruments, Etc
	    	 	7	 
	 Section 5.7.
	 	 Governmental Authorizations, Etc
	    	 	7	 
	 Section 5.8.
	 	 Litigation; Observance of Agreements, Statutes and Orders
	    	 	7	 
	 Section 5.9.
	 	 Taxes; REIT Status
	    	 	8	 
	 Section 5.10.
	 	 Title to Property
	    	 	8	 
	 Section 5.11.
	 	 Licenses, Permits, Etc
	    	 	9	 
	 Section 5.12.
	 	 Compliance with Employee Benefit Plans
	    	 	9	 
	 Section 5.13.
	 	 Private Offering
	    	 	10	 
	 Section 5.14.
	 	 Use of Proceeds; Margin Regulations
	    	 	10	 
	 Section 5.15.
	 	 Existing Indebtedness; Future Liens
	    	 	10	 
	 Section 5.16.
	 	 Foreign Assets Control Regulations, Etc
	    	 	11	 
	 Section 5.17.
	 	 Status under Certain Statutes
	    	 	12	 
	 Section 5.18.
	 	 Environmental Matters
	    	 	12	 
	 Section 5.19.
	 	 Notes Rank Pari Passu.
	    	 	13	 
	 Section 5.20.
	 	 Solvency
	    	 	13	 
	 Section 5.21.
	 	 Unencumbered Properties
	    	 	13	 

  
 -i- 

							
		
	SECTION 6.         REPRESENTATIONS OF THE PURCHASERS.	    	 	15	 
			
	 Section 6.1.
	 	 Purchase for Investment
	    	 	15	 
	 Section 6.2.
	 	 Institutional Accredited Investor
	    	 	15	 
	 Section 6.3.
	 	 Source of Funds
	    	 	16	 
		
	SECTION 7.         INFORMATION AS TO THE ISSUER AND THE GENERAL PARTNER.	    	 	17	 
			
	 Section 7.1.
	 	 Financial and Business Information
	    	 	17	 
	 Section 7.2.
	 	 Officer’s Certificate
	    	 	21	 
	 Section 7.3.
	 	 Visitation
	    	 	22	 
	 Section 7.4.
	 	 Electronic Delivery
	    	 	22	 
		
	SECTION 8.         PAYMENT AND PREPAYMENT OF THE NOTES.	    	 	24	 
			
	 Section 8.1.
	 	 Maturity
	    	 	24	 
	 Section 8.2.
	 	 Optional Prepayments with Make-Whole Amount
	    	 	24	 
	 Section 8.3.
	 	 Allocation of Partial Prepayments
	    	 	24	 
	 Section 8.4.
	 	 Maturity; Surrender, Etc
	    	 	24	 
	 Section 8.5.
	 	 Purchase of Notes
	    	 	24	 
	 Section 8.6.
	 	 Make-Whole Amount.
	    	 	25	 
	 Section 8.7.
	 	 Offer to Prepay Notes in the Event of a Change in Control.
	    	 	26	 
	 Section 8.8.
	 	 Optional Prepayment at Par
	    	 	27	 
	 Section 8.9.
	 	 Payments Due on Non-Business Days
	    	 	28	 
		
	SECTION 9.         AFFIRMATIVE COVENANTS.	    	 	28	 
			
	 Section 9.1.
	 	 Compliance with Laws
	    	 	28	 
	 Section 9.2.
	 	 Insurance
	    	 	28	 
	 Section 9.3.
	 	 Maintenance of Properties
	    	 	29	 
	 Section 9.4.
	 	 Payment of Taxes and Claims
	    	 	29	 
	 Section 9.5.
	 	 Corporate Existence, Etc
	    	 	29	 
	 Section 9.6.
	 	 Books and Records
	    	 	29	 
	 Section 9.7.
	 	 REIT Status
	    	 	30	 
	 Section 9.8.
	 	 Exchange Listing
	    	 	30	 
	 Section 9.9.
	 	 Subsidiary Guarantors.
	    	 	30	 
		
	SECTION 10.         NEGATIVE COVENANTS.	    	 	31	 
			
	 Section 10.1.
	 	 Transactions with Affiliates
	    	 	31	 
	 Section 10.2.
	 	 Mergers and Disposition
	    	 	32	 
	 Section 10.3.
	 	 Change in Business.
	    	 	32	 
	 Section 10.4.
	 	 Economic Sanctions, Etc
	    	 	32	 
	 Section 10.5.
	 	 Change of Management of Properties
	    	 	32	 
	 Section 10.6.
	 	 Change of Issuer Ownership
	    	 	33	 
	 Section 10.7.
	 	 Liens
	    	 	33	 
	 Section 10.8.
	 	 Indebtedness and Cash Flow Covenants
	    	 	34	 
	 Section 10.9.
	 	 Negative Pledge
	    	 	37	 
	 Section 10.10.
	 	 Distributions
	    	 	37	 

  
 -ii- 

							
		
	SECTION 11.         EVENTS OF DEFAULT.	    	 	38	 
		
	SECTION 12.         REMEDIES ON DEFAULT, ETC.	    	 	41	 
			
	 Section 12.1.
	 	 Acceleration
	    	 	41	 
	 Section 12.2.
	 	 Other Remedies
	    	 	41	 
	 Section 12.3.
	 	 Rescission
	    	 	41	 
	 Section 12.4.
	 	 No Waivers or Election of Remedies, Expenses, Etc
	    	 	42	 
		
	SECTION 13.         GUARANTEE.	    	 	42	 
			
	 Section 13.1.
	 	 The Guarantee
	    	 	42	 
	 Section 13.2.
	 	 Waiver of Defenses
	    	 	42	 
	 Section 13.3.
	 	 Guarantee of Payment
	    	 	43	 
	 Section 13.4.
	 	 Guarantee Unconditional
	    	 	43	 
	 Section 13.5.
	 	 Reinstatement
	    	 	44	 
	 Section 13.6.
	 	 Payment on Demand
	    	 	44	 
	 Section 13.7.
	 	 Stay of Acceleration
	    	 	44	 
	 Section 13.8.
	 	 No Subrogation
	    	 	44	 
	 Section 13.9.
	 	 Marshalling
	    	 	45	 
	 Section 13.10.
	 	 Transfer of Notes
	    	 	45	 
	 Section 13.11.
	 	 Consideration
	    	 	45	 
		
	SECTION 14.         REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.	    	 	45	 
			
	 Section 14.1.
	 	 Registration of Notes
	    	 	45	 
	 Section 14.2.
	 	 Transfer and Exchange of Notes
	    	 	45	 
	 Section 14.3.
	 	 Replacement of Notes
	    	 	46	 
		
	SECTION 15.         PAYMENTS ON NOTES.	    	 	46	 
			
	 Section 15.1.
	 	 Place of Payment
	    	 	46	 
	 Section 15.2.
	 	 Payment by Wire Transfer
	    	 	46	 
	 SECTION 15.3.
	 	 FATCA Information
	    	 	47	 
	 SECTION 15.4.
	 	 Tax Withholding
	    	 	47	 
		
	SECTION 16.         EXPENSES, ETC.	    	 	47	 
			
	 Section 16.1.
	 	 Transaction Expenses
	    	 	47	 
	 Section 16.2.
	 	 Certain Taxes
	    	 	48	 
	 Section 16.3.
	 	 Survival
	    	 	48	 
		
	SECTION 17.         SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.	    	 	48	 
		
	SECTION 18.         AMENDMENT AND WAIVER.	    	 	49	 
			
	 Section 18.1.
	 	 Requirements
	    	 	49	 
	 Section 18.2.
	 	 Solicitation of Holders of Notes.
	    	 	49	 
	 Section 18.3.
	 	 Binding Effect, Etc
	    	 	50	 
	 Section 18.4.
	 	 Notes Held by the Issuer or the General Partner, Etc
	    	 	50	 
		
	SECTION 19.         NOTICES.	    	 	50	 
		
	SECTION 20.         REPRODUCTION OF DOCUMENTS.	    	 	51	 

  
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	SECTION 21.         CONFIDENTIAL INFORMATION.	    	 	51	 
		
	SECTION 22.         SUBSTITUTION OF PURCHASER.	    	 	53	 
		
	SECTION 23.         MISCELLANEOUS.	    	 	53	 
			
	 Section 23.1.
	 	 Successors and Assigns
	    	 	53	 
	 Section 23.2.
	 	 Accounting Terms
	    	 	53	 
	 Section 23.3.
	 	 Severability
	    	 	53	 
	 Section 23.4.
	 	 Construction, Etc
	    	 	54	 
	 Section 23.5.
	 	 Counterparts; Electronic Contracting.
	    	 	54	 
	 Section 23.6.
	 	 Governing Law
	    	 	54	 
	 Section 23.7.
	 	 Jurisdiction and Process; Waiver of Jury Trial
	    	 	55	 

  
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	SCHEDULE A	 	—	  	Defined Terms
			
	SCHEDULE 1(f)	 	—	  	Form of 2.74% Series F Guaranteed Senior Note due September 17, 2030
			
	SCHEDULE 1(g)	 	—	  	Form of 2.84% Series G Guaranteed Senior Note due September 17, 2032
			
	SCHEDULE 4.4(a)(1)	 	—	  	Form of Opinion of Counsel for the Issuer and the General Partner
			
	SCHEDULE 4.4(a)(2)	 	—	  	Form of Opinion of Special Counsel for the Issuer and the General Partner
			
	SCHEDULE 4.4(b)	 	—	  	Form of Opinion of Special Counsel for the Purchasers
			
	SCHEDULE 5.3	 	—	  	Disclosure Materials
			
	SCHEDULE 5.4	 	—	  	Subsidiaries and Affiliates of the Issuer and the General Partner and Ownership of Subsidiary Stock; Directors and Senior Officers
			
	SCHEDULE 5.5	 	—	  	Financial Statements
			
	SCHEDULE 5.15	 	—	  	Existing Indebtedness
			
	SCHEDULE 5.21(a)	 	—	  	Unencumbered Assets
			
	SCHEDULE 15.4	 	—	  	Form of U.S. Tax Compliance Certificate
			
	PURCHASER SCHEDULE	 	—	  	Information Relating to Purchasers

 FIRST INDUSTRIAL, L.P. 

FIRST INDUSTRIAL REALTY TRUST, INC. 

1 North Wacker Drive, Suite 4200 

Chicago, Illinois 60606 
 2.74%
Series F Guaranteed Senior Notes due September 17, 2030 
 2.84% Series G Guaranteed Senior Notes due September 17, 2032 

Dated as of July 7, 2020 
 TO
EACH OF THE PURCHASERS LISTED IN 

THE PURCHASER SCHEDULE HERETO: 

Ladies and Gentlemen: 
 FIRST
INDUSTRIAL, L.P., a Delaware limited partnership (the “Issuer”), and FIRST INDUSTRIAL REALTY TRUST, INC., a Maryland corporation (the
“General Partner”), agree with each of the Purchasers as follows: 
 SECTION 1. AUTHORIZATION OF
NOTES. 
 The Issuer will authorize the issue and sale of $300,000,000 aggregate principal amount of its Guaranteed Senior
Notes, of which $100,000,000 aggregate principal amount shall be its 2.74% Series F Guaranteed Senior Notes due September 17, 2030 (the “Series F Notes”) and $200,000,000 aggregate principal amount shall be its 2.84% Series G
Guaranteed Senior Notes due September 17, 2032 (the “Series G Notes”; the Series F Notes and the Series G Notes are hereinafter referred to collectively as the “Notes”). The Series F Notes and the Series G
Notes shall be substantially in the forms set out in Schedule 1(f) and Schedule 1(g), respectively. Certain capitalized and other terms used in this Agreement are defined in Schedule A and, for purposes of this Agreement, the rules of
construction set forth in Section 23.4 shall govern. 
 SECTION 2. SALE AND PURCHASE
OF NOTES; GUARANTY. 
 Section 2.1. Sale and Purchase of
Notes. Subject to the terms and conditions of this Agreement, the Issuer will issue and sell to each Purchaser and each Purchaser will purchase from the Issuer, at the Closing provided for in Section 3, Notes in the principal amount and of
the series specified opposite such Purchaser’s name in the Purchaser Schedule at the purchase price of 100% of the principal amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser shall
have any liability to any Person for the performance or non-performance of any obligation by any other Purchaser hereunder. 

Section 2.2. Guaranty. The obligations of the Issuer hereunder and under the Notes are unconditionally and
irrevocably guaranteed by the General Partner pursuant to the Guaranty. 

  
 -1- 

 SECTION 3. EXECUTION; CLOSING. 

The execution and delivery of this Agreement shall occur on July 7, 2020 (the “Execution Date”). The sale and purchase of
the Notes to be purchased by each Purchaser shall occur at the offices of Schiff Hardin LLP, 1185 Avenue of the Americas, Suite 3000, New York, New York 10036, at 11:00 a.m., New York, New York time, at a closing (the “Closing”) on
September 17, 2020. At the Closing, the Issuer will deliver to each Purchaser the Notes of each series to be purchased by such Purchaser in the form of a single Note of such series (or such greater number of Notes of such series in
denominations of at least $100,000 as such Purchaser may request) dated the date of the Closing and registered in such Purchaser’s name (or in the name of its nominee), against delivery by such Purchaser to the Issuer or its order of
immediately available funds in the amount of the purchase price therefor by wire transfer to the account of the Issuer set forth in the funding instructions delivered by the Issuer pursuant to Section 4.10. If at the Closing the Issuer shall
fail to tender such Notes to any Purchaser as provided above in this Section 3, or any of the conditions specified in Section 4 shall not have been fulfilled to such Purchaser’s satisfaction, such Purchaser shall, at its election, be
relieved of all further obligations under this Agreement, without thereby waiving any rights such Purchaser may have by reason of such failure by the Issuer to tender such Notes or any of the conditions specified in Section 4 not having been
fulfilled to such Purchaser’s satisfaction. 
 SECTION 4. CONDITIONS TO CLOSING. 

Each Purchaser’s obligation to purchase and pay for the Notes to be sold to such Purchaser at the Closing is subject to the fulfillment to
such Purchaser’s satisfaction, prior to or at the Closing, of the following conditions: 
 Section 4.1.
Representations and Warranties. 
 (a) Representations and Warranties of the Issuer. The representations and
warranties of the Issuer in this Agreement shall be (1) correct on the Execution Date and (2) correct in all material respects at the Closing, except to the extent that such representations and warranties are qualified by the term
“material,” “Material,” “in any material respect” or “Material Adverse Effect” in which case such representations and warranties (as so written) shall be correct in all respects at the Closing. 

(b) Representations and Warranties of the General Partner. The representations and warranties of the General Partner in
this Agreement shall be (1) correct on the Execution Date and (2) correct in all material respects at the Closing, except to the extent that such representations and warranties are qualified by the term “material,”
“Material,” “in any material respect” or “Material Adverse Effect” in which case such representations and warranties (as so written) shall be correct in all respects at the Closing. 

Section 4.2. Performance; No Default. The Issuer and the General Partner each shall have performed and
complied with all agreements and conditions contained in this Agreement required to be performed or complied with by it prior to or at the Closing. Before and after giving effect to the issue and sale of the Notes (and the application of the
proceeds thereof as 

  
 -2- 

 
contemplated by Section 5.14), no Default or Event of Default shall have occurred and be continuing. None of the Issuer, the General Partner or any of their Subsidiaries shall have entered
into any transaction since June 5, 2020, that would have been prohibited by Section 10 had such Section applied since such date. 

Section 4.3. Compliance Certificates. 

(a) Officer’s Certificate of the Issuer. The Issuer shall have delivered to such Purchaser an Officer’s
Certificate, dated the date of the Closing, certifying that the conditions specified in Sections 4.1(a), 4.2 and 4.9 have been fulfilled. 

(b) Secretary’s Certificate of the Issuer. The Issuer shall have delivered to such Purchaser a certificate of its
Secretary or Assistant Secretary, dated the date of the Closing, certifying as to (1) the resolutions attached thereto and other limited partnership proceedings relating to the authorization, execution and delivery of the Notes and this
Agreement and (2) the Issuer’s organizational documents as then in effect. 
 (c) Officer’s Certificate of
the General Partner. The General Partner shall have delivered to such Purchaser an Officer’s Certificate, dated the date of the Closing, certifying that the conditions specified in Sections 4.1(b), 4.2 and 4.9 have been fulfilled. 

(d) Secretary’s Certificate of the General Partner. The General Partner shall have delivered to such Purchaser a
certificate of its Secretary or Assistant Secretary, dated the date of the Closing, certifying as to (1) the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of this Agreement
and (2) the General Partner’s organizational documents as then in effect. 
 Section 4.4. Opinions of
Counsel. Such Purchaser shall have received opinion letters, dated the date of the Closing, (a) (1) from Barack Ferrazzano Kirschbaum & Nagelberg LLP, counsel for the Issuer and the General Partner, covering the matters set forth
in Schedule 4.4(a)(1) (and the Issuer and the General Partner hereby instruct such counsel to deliver such opinion letter to the Purchasers) and (2) from McGuireWoods LLP, special counsel for the Issuer and the General Partner, covering the
matters set forth in Schedule 4.4(a)(2) (and the Issuer and the General Partner hereby instruct such counsel to deliver such opinion letter to the Purchasers) and (b) from Schiff Hardin LLP, the Purchasers’ special counsel in connection
with such transactions, substantially in the form set forth in Schedule 4.4(b) and covering such other matters incident to such transactions as such Purchaser may reasonably request. 

Section 4.5. Purchase Permitted By Applicable Law, Etc. On the date of the Closing, such Purchaser’s
purchase of Notes shall (a) be permitted by the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse to provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited
investments by insurance companies without restriction as to the character of the particular investment, (b) not violate any applicable law or regulation (including Regulation T, U or X of the Board of Governors of the Federal Reserve System)
and (c) not subject such Purchaser to any tax, penalty or liability under or pursuant to any applicable law or regulation, which law or regulation was not in effect on the Execution Date. If requested by such Purchaser at least 10 Business Days
prior to the Closing, such Purchaser shall have received an Officer’s Certificate from the Issuer certifying as to such matters of fact as such Purchaser may reasonably specify to enable such Purchaser to determine whether such purchase is so
permitted. 

  
 -3- 

 Section 4.6. Sale of Other Notes. Contemporaneously with
the Closing, the Issuer shall sell to each other Purchaser and each other Purchaser shall purchase the Notes to be purchased by it at the Closing as specified in the Purchaser Schedule. 

Section 4.7. Payment of Special Counsel Fees. Without limiting Section 16.1, the Issuer shall have paid
on or before the Execution Date and the date of the Closing the reasonable and documented fees, charges and disbursements of the Purchasers’ special counsel referred to in Section 4.4(b) to the extent reflected in a statement of such
counsel rendered to the Issuer at least one Business Day prior to such date. 
 Section 4.8. Private Placement
Numbers. A Private Placement Number issued by Standard & Poor’s CUSIP Service Bureau (in cooperation with the SVO) shall have been obtained for each series of the Notes. 

Section 4.9. Changes in Corporate Structure; Change in Control. Neither the Issuer nor the General Partner
shall have changed its jurisdiction of incorporation or organization, as applicable, or been a party to any merger or consolidation or succeeded to all or any substantial part of the liabilities of any other entity, at any time following the date of
the most recent financial statements referred to in Schedule 5.5. No Change in Control shall have occurred. 

Section 4.10. Funding Instructions. At least three Business Days prior to the date of the Closing, each
Purchaser shall have received written instructions signed by a Responsible Officer of the Issuer on letterhead of the Issuer directing the manner of the payment of the purchase price for the Notes and setting forth (a) the name and address of
the transferee bank, (b) such transferee bank’s ABA number, (c) the account name and number into which the purchase price for the Notes is to be deposited and (d) the name and telephone number of the account representative at the
Issuer responsible for (1) verifying receipt of such funds and (2) verifying the information set forth in the instructions. 

Section 4.11. Proceedings and Documents. All corporate and other proceedings in connection with the
transactions contemplated by this Agreement and all documents and instruments incident to such transactions shall be reasonably satisfactory to such Purchaser and its special counsel, and such Purchaser and its special counsel shall have received
all such counterpart originals or certified or other copies of such documents as such Purchaser or such special counsel may reasonably request. 

SECTION 5. REPRESENTATIONS AND WARRANTIES OF THE ISSUER
AND THE GENERAL PARTNER. 
 The Issuer and the General Partner represent and
warrant to each Purchaser that each of the following is (x) correct on the Execution Date and (y) correct in all material respects at the Closing, except to the extent that such representations and warranties are qualified by the term
“material,” “Material,” “in any material respect” or “Material Adverse Effect” in which case such representations and warranties (as so written) shall be correct in all respects at the Closing: 

  
 -4- 

 Section 5.1. Organization; Power and Authority. 

(a) The Issuer is a limited partnership duly organized, validly existing and in good standing under the laws of its
jurisdiction of organization, and is duly qualified as a foreign limited partnership and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so
qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Issuer has the limited partnership power and authority to own or hold under lease the properties it purports to
own or hold under lease, to transact the business it transacts and proposes to transact, to execute and deliver this Agreement and the Notes and to perform the provisions hereof and thereof. 

(b) The General Partner is a corporation duly organized, validly existing and in good standing under the laws of its
jurisdiction of incorporation, and is duly qualified as a foreign corporation and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or
in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The General Partner has the corporate power and authority to own or hold under lease the properties it purports to own or hold
under lease, to transact the business it transacts and proposes to transact, to execute and deliver this Agreement and to perform the provisions hereof. 

Section 5.2. Authorization, Etc. 

(a) This Agreement and the Notes have been duly authorized by all necessary limited partnership action on the part of the
Issuer, and this Agreement constitutes, and upon execution and delivery thereof each Note will constitute, a legal, valid and binding obligation of the Issuer enforceable against the Issuer in accordance with its terms, except as such enforceability
may be limited by (1) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (2) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law). 
 (b) This Agreement has been duly authorized by all
necessary corporate action on the part of the General Partner, and this Agreement constitutes a legal, valid and binding obligation of the General Partner enforceable against the General Partner in accordance with its terms, except as such
enforceability may be limited by (1) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (2) general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law). 
 Section 5.3. Disclosure.
The SEC filings posted to the IntraLinks site maintained by the agents for the Issuer and the General Partner, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, for this transaction and identified on Schedule 5.3, fairly describe, in all
material respects, the general nature of the business and principal properties of the General Partner, the Issuer and their Subsidiaries. This Agreement, the financial statements listed in Schedule 5.5 and the documents, certificates or other
writings delivered to the Purchasers by or on behalf of the 

  
 -5- 

 
Issuer and/or the General Partner prior to June 17, 2020 in connection with the transactions contemplated hereby and identified in Schedule 5.3 (this Agreement and such documents,
certificates or other writings and such financial statements delivered to each Purchaser being referred to, collectively, as the “Disclosure Documents”), taken as a whole, do not contain any untrue statement of a material fact or
omit to state any material fact necessary to make the statements therein not misleading in light of the circumstances under which they were made. Except as disclosed in the Disclosure Documents, since December 31, 2019, there has been no change
in the financial condition, operations, business, properties or prospects of the General Partner, the Issuer or any of their Subsidiaries except changes that could not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. There is no fact known to the Issuer or the General Partner that could reasonably be expected to have a Material Adverse Effect that has not been set forth herein or in the Disclosure Documents. 

Section 5.4. Organization and Ownership of Shares of Subsidiaries; Affiliates. 

(a) Schedule 5.4 contains (except as noted therein) complete and correct lists of (1) the General Partner’s and the
Issuer’s Subsidiaries, showing, as to each Subsidiary, the name thereof, the jurisdiction of its organization, the percentage of shares of each class of its capital stock or similar Equity Interests outstanding owned by the General Partner, the
Issuer and each of their other Subsidiaries and, (2) the Issuer’s and the General Partner’s Affiliates, other than Subsidiaries and identifying each Investment Affiliate, and (3) the directors and senior officers of the Issuer
and the General Partner. 
 (b) All of the outstanding shares of capital stock or similar Equity Interests of each Subsidiary
shown in Schedule 5.4 as being owned by the General Partner, the Issuer and their Subsidiaries have been validly issued, are fully paid and non-assessable and are owned by the General Partner, the Issuer or
another of their Subsidiaries free and clear of any Lien that is prohibited by this Agreement and, with respect to each Subsidiary that owns any Unencumbered Assets, the General Partner, the Issuer or such other Subsidiary has the unencumbered right
to vote such shares of capital stock or similar Equity Interests. 
 (c) Each Subsidiary of the Issuer or the General Partner
is a corporation or other legal entity duly organized, validly existing and, where applicable, in good standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or other legal entity and, where
applicable, is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. Each such Subsidiary has the corporate or other power and authority to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts
and proposes to transact. 
 (d) No Subsidiary of the Issuer or the General Partner is subject to any legal, regulatory,
contractual or other restriction (other than customary limitations imposed by corporate law or similar statutes) restricting the ability of such Subsidiary to pay dividends out of profits or make any other similar distributions of profits to the
General Partner, the Issuer or any of their Subsidiaries that owns outstanding shares of capital stock or similar Equity Interests of such Subsidiary. 

  
 -6- 

 Section 5.5. Financial Statements; Material Liabilities.
The Issuer and the General Partner have delivered to each Purchaser copies of the consolidated financial statements of the Issuer and its Subsidiaries and the General Partner and its Subsidiaries listed on Schedule 5.5. All of such financial
statements (including in each case the related schedules and notes) fairly present in all material respects the consolidated financial position of the Issuer and its Subsidiaries or the General Partner and its Subsidiaries, as the case may be, as of
the respective dates specified in such Schedule and the consolidated results of their operations and cash flows for the respective periods so specified and have been prepared in accordance with GAAP consistently applied throughout the periods
involved except as set forth in the notes thereto (subject, in the case of any interim financial statements, to normal year-end adjustments). None of the Issuer, the General Partner or any of their
Subsidiaries has any Material liabilities that are not disclosed in the Disclosure Documents. 
 Section 5.6.
Compliance with Laws, Other Instruments, Etc. The execution, delivery and performance by (a) the Issuer of this Agreement and the Notes and (b) the General Partner of this Agreement will not (1) contravene, result in any breach
of, or constitute a default under, or result in the creation of any Lien in respect of any property of the Issuer, the General Partner or any of their Subsidiaries under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement,
lease, corporate charter, regulations or by-laws, shareholders agreement or any other agreement or instrument to which the Issuer, the General Partner or any of their Subsidiaries is bound or by which the
Issuer, the General Partner or any of their Subsidiaries or any of their respective properties may be bound or affected, (2) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree or
ruling of any court, arbitrator or Governmental Authority applicable to the Issuer, the General Partner or any of their Subsidiaries or (3) violate any provision of any statute or other rule or regulation of any Governmental Authority
applicable to the Issuer, the General Partner or any of their Subsidiaries. 
 Section 5.7. Governmental
Authorizations, Etc. No consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by (a) the Issuer of this Agreement
or the Notes or (b) the General Partner of this Agreement. 
 Section 5.8. Litigation; Observance of
Agreements, Statutes and Orders. 
 (a) There are no actions, suits, investigations or proceedings pending or, to the
knowledge of the Issuer or the General Partner, threatened in writing against or affecting the Issuer, the General Partner or any of their Subsidiaries or any property of the Issuer, the General Partner or any of their Subsidiaries in any court or
before any arbitrator of any kind or before or by any Governmental Authority that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) None of the Issuer, the General Partner or any of their Subsidiaries is (1) in default under any agreement or
instrument to which it is a party or by which it is bound, (2) in violation of any order, judgment, decree or ruling of any court, any 

  
 -7- 

 
arbitrator of any kind or any Governmental Authority or (3) in violation of any applicable law, ordinance, rule or regulation of any Governmental Authority (including Environmental Laws, the
USA PATRIOT Act or any of the other laws and regulations that are referred to in Section 5.16), which default or violation could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 5.9. Taxes; REIT Status. 

(a) The Issuer, the General Partner and their Subsidiaries have filed all federal, state and other material tax returns that
are required to have been filed in any jurisdiction, and have paid all taxes shown to be due and payable on such returns and all other taxes and assessments levied upon them or their properties, assets, income or franchises, to the extent such taxes
and assessments have become due and payable and before they have become delinquent, except for any taxes and assessments (1) the amount of which, individually or in the aggregate, is not Material or (2) the amount, applicability or
validity of which is currently being contested in good faith by appropriate proceedings and with respect to which the Issuer, the General Partner or such Subsidiary, as the case may be, has established adequate reserves in accordance with GAAP.
Neither the Issuer nor the General Partner knows of any basis for any other tax or assessment that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The charges, accruals and reserves on the books of
the Issuer, the General Partner and their Subsidiaries in respect of U.S. federal, state or other taxes for all fiscal periods are adequate. The U.S. federal income tax liabilities of the Issuer, the General Partner and their Subsidiaries have been
finally determined (whether by reason of completed audits or the statute of limitations having run) for all fiscal years up to and including the fiscal year ended December 31, 2015. 

(b) The General Partner has operated, and intends to continue to operate in a manner so as to permit it to qualify, as a REIT.
The General Partner has elected treatment as a REIT. The Issuer and each Subsidiary of the General Partner and the Issuer is either (1) a “qualified REIT subsidiary” within the meaning of section 856(i) of the Code, (2) a REIT,
(3) a Taxable REIT Subsidiary within the meaning of Section 856(l) of the Code, (4) a partnership under Treasury Regulation section 301.7701-3 or (5) an entity disregarded as a separate
entity from its owner under Treasury Regulation Section 301.7701-3. 

Section 5.10. Title to Property. To the knowledge of the Issuer and the General Partner after due inquiry,
the Issuer, the General Partner or a Subsidiary thereof has good and marketable title to the Properties and assets reflected in the most recent audited financial statements referred to in Section 5.5 as owned by the Issuer, the General Partner
or any such Subsidiary free and clear of Liens except for Permitted Liens. The execution, delivery or performance of this Agreement and the Notes will not result in the creation of any Lien on any of the Properties. No consent to the transactions
contemplated hereunder or under the Notes is required from any ground lessor or mortgagee or beneficiary under a deed of trust or any other party except as has been previously obtained. 

  
 -8- 

 Section 5.11. Licenses, Permits, Etc. 

(a) The Issuer, the General Partner and each of their Subsidiaries own or possess all licenses, permits, franchises,
authorizations, patents, copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto, that individually or in the aggregate are Material, without known conflict with the rights of others. 

(b) To the knowledge of the Issuer and the General Partner, no product or service of the Issuer, the General Partner or any of
their Subsidiaries infringes in any material respect any license, permit, franchise, authorization, patent, copyright, proprietary software, service mark, trademark, trade name or other right owned by any other Person. 

(c) To the knowledge of the Issuer and the General Partner, there is no Material violation by any Person of any right of the
Issuer, the General Partner or any of their Subsidiaries with respect to any license, permit, franchise, authorization, patent, copyright, proprietary software, service mark, trademark, trade name or other right owned or used by the Issuer, the
General Partner or any of their Subsidiaries. 
 Section 5.12. Compliance with Employee Benefit Plans. 

(a) The Issuer, the General Partner and each of their ERISA Affiliates have operated and administered each Plan in compliance
with all applicable laws except for such instances of noncompliance as have not resulted in and could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. None of the Issuer, the General Partner or
any of their ERISA Affiliates has incurred any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in section 3 of ERISA), and no event, transaction or
condition has occurred or exists that could, individually or in the aggregate, reasonably be expected to result in the incurrence of any such liability by the Issuer, the General Partner or any of their ERISA Affiliates, or in the imposition of any
Lien on any of the rights, properties or assets thereof. None of the Issuer, the General Partner or any of their ERISA Affiliates has ever (1) established, maintained or contributed to, or had an obligation to maintain or contribute to, or had
any legal liability with respect to, any Plan that is subject to Title IV of ERISA or (2) established, maintained, contributed to or otherwise participated in, or had an obligation to maintain, contribute to or otherwise participate in, or had
any liability with respect to, any Multiemployer Plan. 
 (b) The expected postretirement benefit obligation (determined as
of the last day of the Issuer’s and the General Partner’s most recently ended fiscal year in accordance with FASB ASC Topic 715-60, without regard to liabilities attributable to continuation coverage
mandated by section 4980B of the Code) of the Issuer, the General Partner and their Subsidiaries is not Material. 
 (c) The
execution and delivery of this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction that is subject to the prohibitions of section 406 of ERISA or in connection with which a tax could be imposed pursuant to

  
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section 4975(c)(1)(A)-(D) of the Code. The representation by the Issuer and the General Partner to each Purchaser in the first sentence of this Section 5.12(c) is made in reliance upon and
subject to the accuracy of such Purchaser’s representation in Section 6.3 as to the sources of the funds to be used to pay the purchase price of the Notes to be purchased by such Purchaser. 

(d) None of the Issuer, the General Partner or any of their Subsidiaries has any
Non-U.S. Plans. 
 Section 5.13. Private Offering. Neither the
Issuer nor the General Partner or anyone acting on their behalf has offered the Notes, the Guaranty or any similar Securities for sale to, or solicited any offer to buy the Notes, the Guaranty or any similar Securities from, or otherwise approached
or negotiated in respect thereof with, any Person other than the Purchasers and not more than 43 other Institutional Investors, each of which has been offered the Notes at a private sale for investment. Neither the Issuer nor the General Partner or
anyone acting on their behalf has taken, or will take, any action that would subject the issuance or sale of the Notes or the execution and delivery by the General Partner of this Agreement for purposes of providing the Guaranty to the registration
requirements of section 5 of the Securities Act or to the registration requirements of any Securities or blue sky laws of any applicable jurisdiction. 

Section 5.14. Use of Proceeds; Margin Regulations. The Issuer will apply the proceeds of the sale of the
Notes hereunder to repay certain existing Indebtedness and for other general corporate purposes. No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin
stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any Securities under such circumstances as to involve the Issuer in a violation of
Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute any of the value of the consolidated assets of the Issuer and its Subsidiaries and
the Issuer does not have any present intention that margin stock will constitute any of the value of such assets. As used in this Section, the terms “margin stock” and “purpose of buying or
carrying” shall have the meanings assigned to them in said Regulation U. 
 Section 5.15.
Existing Indebtedness; Future Liens. 
 (a) Except as described therein, Schedule 5.15 sets forth a complete and
correct list of all outstanding Indebtedness of the Issuer, the General Partner and their Subsidiaries as of March 31, 2020 (including descriptions of the obligors and obligees, principal amounts outstanding, any collateral therefor and any
Guarantee Obligations in respect thereof), since which date there has been no Material change in the amounts, interest rates, sinking funds, installment payments or maturities of the Indebtedness of the Issuer, the General Partner and their
Subsidiaries. None of the Issuer, the General Partner or any of their Subsidiaries is in default and no waiver of default is currently in effect, in the payment of any principal or interest on any Indebtedness of the Issuer, the General Partner or
any of their Subsidiaries and no event or condition exists with respect to any Indebtedness of the Issuer, the General Partner or any of their Subsidiaries that would permit (or that with notice or the lapse of time, or both, would permit) one or
more Persons to cause such Indebtedness to become due and payable before its stated maturity or before its regularly scheduled dates of payment. 

  
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 (b) Except as disclosed in Schedule 5.15, none of the Issuer, the General
Partner or any of their Subsidiaries has agreed or consented to cause or permit any of its property, whether now owned or hereafter acquired, to be subject to a Lien not permitted by this Agreement. 

(c) None of the Issuer, the General Partner or any of their Subsidiaries is a party to, or otherwise subject to any provision
contained in, any instrument evidencing Indebtedness of the Issuer, the General Partner or any of their Subsidiaries, any agreement relating thereto or any other agreement (including its charter or any other organizational document) which limits the
amount of, or otherwise imposes restrictions on the incurring of, Indebtedness of either the Issuer or the General Partner, except as disclosed in Schedule 5.15. 

Section 5.16. Foreign Assets Control Regulations, Etc. 

(a) None of the Issuer, the General Partner or any Controlled Entity (1) is a Blocked Person, (2) has been notified
that its name appears or may in the future appear on a State Sanctions List or (3) is a target of sanctions that have been imposed by the United Nations or the European Union. 

(b) None of the Issuer, the General Partner or any Controlled Entity (1) has violated, been found in violation of, or been
charged or convicted under, any applicable U.S. Economic Sanctions Laws, Anti-Money Laundering Laws or Anti-Corruption Laws or (2) to the Issuer’s or the General Partner’s knowledge, is under investigation by any Governmental
Authority for possible violation of any U.S. Economic Sanctions Laws, Anti-Money Laundering Laws or Anti-Corruption Laws. 

(c) No part of the proceeds from the sale of the Notes hereunder: 

(1) constitutes or will constitute funds obtained on behalf of any Blocked Person or will otherwise be used by the Issuer, the
General Partner or any Controlled Entity, directly or indirectly, (i) in connection with any investment in, or any transactions or dealings with, any Blocked Person, (ii) for any purpose that would cause any Purchaser to be in violation of
any U.S. Economic Sanctions Laws or (iii) otherwise in violation of any U.S. Economic Sanctions Laws; 
 (2) will be
used, directly or indirectly, in violation of, or cause any Purchaser to be in violation of, any applicable Anti-Money Laundering Laws; or 

(3) will be used, directly or indirectly, for the purpose of making any improper payments, including bribes, to any
Governmental Official or commercial counterparty in order to obtain, retain or direct business or obtain any improper advantage, in each case which would be in violation of, or cause any Purchaser to be in violation of, any applicable
Anti-Corruption Laws. 

  
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 (d) The Issuer and the General Partner have established procedures and
controls which they reasonably believe are adequate (and otherwise comply with applicable law) to ensure that the Issuer, the General Partner and each Controlled Entity are and will continue to be in compliance with all applicable U.S. Economic
Sanctions Laws, Anti-Money Laundering Laws and Anti-Corruption Laws. 
 Section 5.17. Status under Certain
Statutes. None of the Issuer, the General Partner or any of their Subsidiaries is subject to regulation under the Investment Company Act of 1940, the Public Utility Holding Company Act of 2005, the ICC Termination Act of 1995, or the Federal
Power Act. 
 Section 5.18. Environmental Matters. 

(a) None of the Issuer, the General Partner, any of their Subsidiaries or any Investment Affiliate has knowledge of any claim
or has received any notice of any claim and no proceeding has been instituted asserting any claim against the Issuer, the General Partner, any of their Subsidiaries or any Investment Affiliate or any of their respective real properties or other
assets now or formerly owned, leased or operated by any of them, alleging any damage to the environment or violation of any Environmental Laws, except, in each case, such as could not reasonably be expected to result in a Material Adverse Effect.

 (b) None of the Issuer, the General Partner, any of their Subsidiaries or any Investment Affiliate has knowledge of any
facts which would give rise to any claim, public or private, of violation of Environmental Laws or damage to the environment emanating from, occurring on or in any way related to real properties now or formerly owned, leased or operated by any of
them or to other assets or their use, except, in each case, such as could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

(c) None of the Issuer, the General Partner, any of their Subsidiaries or any Investment Affiliate has stored any Hazardous
Materials on real properties now or formerly owned, leased or operated by any of them in a manner which is contrary to any Environmental Law that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.

 (d) None of the Issuer, the General Partner, any of their Subsidiaries or any Investment Affiliate has disposed of any
Hazardous Materials in a manner which is contrary to any Environmental Law that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

(e) All buildings on all real properties now owned, leased or operated by the Issuer, the General Partner, any of their
Subsidiaries or any Investment Affiliate are in compliance with applicable Environmental Laws, except where failure to comply could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

  
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 Section 5.19. Notes Rank Pari Passu. 

(a) The obligations of the Issuer under this Agreement and the Notes rank at least pari passu in right of payment with
all other unsecured and unsubordinated senior Indebtedness (actual or contingent) of the Issuer, including all unsecured and unsubordinated senior Indebtedness of the Issuer described in Schedule 5.15. 

(b) The obligations of the General Partner under this Agreement rank at least pari passu in right of payment with all
other unsecured and unsubordinated senior Indebtedness (actual or contingent) of the General Partner, including all unsecured and unsubordinated senior Indebtedness of the General Partner described in Schedule 5.15. 

Section 5.20. Solvency. 

(a) On the Execution Date and immediately following the execution and delivery of the Notes and the application of the proceeds
thereof, (1) the fair value of the assets of the Issuer, the General Partner and their Subsidiaries on a consolidated basis, at a fair valuation, will exceed the debts and liabilities, subordinated, contingent or otherwise, of the Issuer, the
General Partner and their Subsidiaries on a consolidated basis, (2) the present fair saleable value of the Properties of the Issuer, the General Partner and their Subsidiaries on a consolidated basis will be greater than the amount that will be
required to pay the probable liability of the Issuer, the General Partner and their Subsidiaries on a consolidated basis on their debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute
and matured, (3) the Issuer, the General Partner and their Subsidiaries on a consolidated basis will be able to pay their debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured,
and (4) the Issuer, the General Partner and their Subsidiaries on a consolidated basis will not have unreasonably small capital with which to conduct the businesses in which they are engaged as such businesses are now conducted and are proposed
to be conducted after the Execution Date. 
 (b) Neither the Issuer nor the General Partner intends to, or intends to permit
any of their Subsidiaries to, incur debts beyond its ability to pay such debts as they mature, taking into account the timing of and amounts of cash to be received by it or any such Subsidiary and the timing of the amounts of cash to be payable on
or in respect of its Indebtedness or the Indebtedness of any such Subsidiary. 
 Section 5.21. Unencumbered
Properties. 
 (a) Schedule 5.21(a) contains a complete and accurate description of the Unencumbered Assets as of the
Execution Date. 
 (b) With respect to each Project identified as an Unencumbered Asset on Schedule 5.21(a): 

(1) no portion of any improvement on such Unencumbered Asset is located in an area identified by the Secretary of Housing and
Urban Development or any successor thereto as an area having special flood hazards pursuant to the 

  
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National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973 or any successor law, or, if located within any such area, the Issuer has obtained and will maintain the
insurance (including flood insurance) prescribed in Section 9.2; 
 (2) to the Issuer’s knowledge, such
Unencumbered Asset and the present use and occupancy thereof are in material compliance with all applicable zoning ordinances (without reliance upon adjoining or other properties), building codes, land use and Environmental Laws, and other similar
laws (herein, “Applicable Laws”); 
 (3) such Unencumbered Asset is served by all utilities required for the
current or contemplated use thereof. All utility service is provided by public utilities and such Unencumbered Asset has accepted or is equipped to accept such utility service; 

(4) all public roads and streets necessary for service of and access to such Unencumbered Asset for the current or contemplated
use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public; 

(5) such Unencumbered Asset is served by public water and sewer systems or, if such Unencumbered Asset is not serviced by a
public water and sewer system, such alternate systems are adequate and meet, in all material respects, all requirements and regulations of, and otherwise comply in all material respects with, all Applicable Laws with respect to such alternate
systems; 
 (6) the Issuer is not aware of any latent or patent structural or other significant deficiency of such
Unencumbered Asset. Such Unencumbered Asset is free of damage and waste that would materially and adversely affect the value of such Unencumbered Asset and is in good repair, and there is no deferred maintenance other than ordinary wear and tear.
Such Unencumbered Asset is free from damage caused by fire or other casualty. There is no pending or, to the actual knowledge of the Issuer, threatened condemnation proceedings affecting such Unencumbered Asset, or any material part thereof; 

(7) to the Issuer’s knowledge, all liquid and solid waste disposal, septic and sewer systems located on such Unencumbered
Asset are in a good and safe condition and repair and, to the Issuer’s knowledge, in material compliance with all Applicable Laws with respect to such systems; 

(8) all improvements on such Unencumbered Asset lie within the boundaries and building restrictions of the legal description of
record of such Unencumbered Asset, no such improvements encroach upon easements benefiting such Unencumbered Asset other than encroachments that do not materially adversely affect the use or occupancy of such Unencumbered Asset and no improvements
on adjoining properties encroach upon such Unencumbered Asset 

  
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or easements benefiting such Unencumbered Asset other than encroachments that do not materially adversely affect the use or occupancy of such Unencumbered Asset. All amenities, access routes or
other items that materially benefit such Unencumbered Asset are under direct control of the Issuer, constitute permanent easements that benefit all or part of such Unencumbered Asset or are public property, and such Unencumbered Asset, by virtue of
such easements or otherwise, is contiguous to a physically open, dedicated all weather public street, and has the necessary permits for ingress and egress; 

(9) there are no delinquent taxes, ground rents, water charges, sewer rents, assessments, insurance premiums, leasehold
payments, or other outstanding charges affecting such Unencumbered Asset except to the extent such items are being contested in good faith and as to which adequate reserves have been provided; and 

(10) such Unencumbered Asset satisfies each of the requirements for an Unencumbered Asset as set forth in the definition
thereof. 
 A breach of any of the representations and warranties contained in this Section 5.21(b) with respect to a Project shall disqualify such
Project from being an Unencumbered Asset for so long as such breach continues (unless otherwise approved in writing by the Required Holders) but shall not constitute a Default or an Event of Default (unless the elimination of such Property as an
Unencumbered Asset results in a Default or an Event of Default under one of the other provisions of this Agreement). 
 SECTION 6.
REPRESENTATIONS OF THE PURCHASERS. 
 Each Purchaser, severally and not
jointly, represents and warrants to the Issuer and the General Partner that each of the following is true and correct on the Execution Date: 

Section 6.1. Purchase for Investment. Such Purchaser is purchasing the Notes for its own account or for one
or more separate accounts maintained by such Purchaser or for the account of one or more pension or trust funds and not with a view to the distribution thereof, provided that the disposition of such Purchaser’s or their property shall at
all times be within such Purchaser’s or their control. Such Purchaser understands that the Notes have not been registered under the Securities Act and may be resold only if registered pursuant to the provisions of the Securities Act or if an
exemption from registration is available, except under circumstances where neither such registration nor such an exemption is required by law, and that the Issuer is not required to register the Notes. 

Section 6.2. Institutional Accredited Investor. Such Purchaser is an “accredited investor” (as
defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) acting for its own account (and not for the account of others) or as a fiduciary or agent for others (which others are also “accredited investors”).
Such Purchaser has had the opportunity to ask questions of the Issuer and received answers concerning the terms and conditions of the sale of the Notes. 

  
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 Section 6.3. Source of Funds. At least one of the
following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Purchaser to pay the purchase price of the Notes to be purchased by such Purchaser hereunder: 

(a) the Source is an “insurance company general account” (as the term is defined in the United States Department of
Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the reserves and liabilities (as defined by the annual statement for life insurance companies approved by the
NAIC (the “NAIC Annual Statement”)) for the general account contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and liabilities for the general account contract(s) held by or on
behalf of any other employee benefit plans maintained by the same employer (or affiliate thereof as defined in PTE 95-60) or by the same employee organization in the general account do not exceed 10% of the
total reserves and liabilities of the general account (exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such Purchaser’s state of domicile; or 

(b) the Source is a separate account that is maintained solely in connection with such Purchaser’s fixed contractual
obligations under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate account (or to any participant or beneficiary of such plan (including any annuitant)) are not
affected in any manner by the investment performance of the separate account; or 
 (c) the Source is either (1) an
insurance company pooled separate account, within the meaning of PTE 90-1 or (2) a bank collective investment fund, within the meaning of the PTE 91-38 and, except
as disclosed by such Purchaser to the Issuer in writing pursuant to this clause (c), no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns more than 10% of all assets allocated to such
pooled separate account or collective investment fund; or 
 (d) the Source constitutes assets of an “investment
fund” (within the meaning of Part VI(b) of PTE 84-14 (the “QPAM Exemption”)) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part
VI(a) of the QPAM Exemption), no employee benefit plan’s assets that are managed by the QPAM in such investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an
affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization and managed by such QPAM, represent more than 20% of the total client assets managed by such QPAM, the conditions of Part
I(c) and (g) of the QPAM Exemption are satisfied, neither the QPAM nor a Person controlling or controlled by the QPAM maintains an ownership interest in the Issuer that would cause the QPAM and the Issuer to be “related” within the
meaning of Part VI(h) of the QPAM Exemption and (1) the identity of such QPAM and (2) the names of any employee benefit plans whose assets in the investment fund, when combined with the assets of all other employee benefit plans
established or maintained by the same employer or by an affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same 

  
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employee organization, represent 10% or more of the assets of such investment fund, have been disclosed to the Issuer in writing pursuant to this clause (d); or 

(e) the Source constitutes assets of a “plan(s)” (within the meaning of Part IV(h) of PTE 96-23 (the “INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV(a) of the INHAM
Exemption), the conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither the INHAM nor a Person controlling or controlled by the INHAM (applying the definition of “control” in Part IV(d)(3) of the INHAM
Exemption) owns a 10% or more interest in the Issuer and (1) the identity of such INHAM and (2) the name(s) of the employee benefit plan(s) whose assets constitute the Source have been disclosed to the Issuer in writing pursuant to this
clause (e); or 
 (f) the Source is a governmental plan; or 

(g) the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee
benefit plans, each of which has been identified to the Issuer in writing pursuant to this clause (g); or 
 (h) the Source
does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA. 
 As used in this Section 6.2, the terms
“employee benefit plan,” “governmental plan,” and “separate account” shall have the respective meanings assigned to such terms in sections 3(3), 3(32) and 3(17) of ERISA. 

SECTION 7. INFORMATION AS TO THE ISSUER AND
THE GENERAL PARTNER. 
 Section 7.1. Financial and Business
Information. The Issuer and the General Partner shall deliver to each Purchaser and each holder of a Note that is an Institutional Investor: 

(a) Issuer’s Quarterly Statements — within 45 days (or such shorter period as is the date by which such
financial statements are required to be delivered under any Material Credit Facility or the date on which such corresponding financial statements are delivered under any Material Credit Facility if such delivery occurs earlier than such required
delivery date) after the end of each quarterly fiscal period in each fiscal year of the Issuer (other than the last quarterly fiscal period of each such fiscal year), duplicate copies of, 

(1) a consolidated balance sheet of the Issuer and its Subsidiaries as at the end of such quarter, and 

(2) consolidated statements of operations, changes in partners’ capital and cash flows of the Issuer and its Subsidiaries,
for such quarter and (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter, 

  
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setting forth in each case in comparative form the figures for the corresponding periods in the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP applicable to
quarterly financial statements generally, and certified by a Senior Financial Officer of the Issuer as fairly presenting, in all material respects, the financial position of the companies being reported on and their results of operations and cash
flows, subject to changes resulting from year-end adjustments; 
 (b)
Issuer’s Annual Statements — within 90 days (or such shorter period as is the date by which such financial statements are required to be delivered under any Material Credit Facility or the date on which such corresponding financial
statements are delivered under any Material Credit Facility if such delivery occurs earlier than such required delivery date) after the end of each fiscal year of the Issuer, duplicate copies of, 

(1) a consolidated balance sheet of the Issuer and its Subsidiaries as at the end of such year, and 

(2) consolidated statements of operations, changes in partners’ capital and cash flows of the Issuer and its Subsidiaries
for such year, 
 setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail, prepared
in accordance with GAAP, and accompanied by an opinion thereon (without a “going concern” or similar qualification or exception and without any qualification or exception as to the scope of the audit on which such opinion is based) of
independent public accountants of recognized national standing, which opinion shall state that such financial statements present fairly, in all material respects, the financial position of the companies being reported upon and their results of
operations and cash flows and have been prepared in conformity with GAAP, and that the examination of such accountants in connection with such financial statements has been made in accordance with generally accepted auditing standards, and that such
audit provides a reasonable basis for such opinion in the circumstances; 
 (c) General Partner’s Quarterly
Statements — within 45 days (or such shorter period as is the date by which such financial statements are required to be delivered under any Material Credit Facility or the date on which such corresponding financial statements are delivered
under any Material Credit Facility if such delivery occurs earlier than such required delivery date) after the end of each quarterly fiscal period in each fiscal year of the General Partner (other than the last quarterly fiscal period of each such
fiscal year), duplicate copies of, 
 (1) a consolidated balance sheet of the General Partner and its Subsidiaries as at the
end of such quarter, and 
 (2) consolidated statements of operations, changes in shareholders’ equity and cash flows of
the General Partner and its Subsidiaries, for such quarter and (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter, 

  
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setting forth in each case in comparative form the figures for the corresponding periods in the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP applicable to
quarterly financial statements generally, and certified by a Senior Financial Officer of the General Partner as fairly presenting, in all material respects, the financial position of the companies being reported on and their results of operations
and cash flows, subject to changes resulting from year-end adjustments; 
 (d)
General Partner’s Annual Statements — within 90 days (or such shorter period as is the date by which such financial statements are required to be delivered under any Material Credit Facility or the date on which such corresponding
financial statements are delivered under any Material Credit Facility if such delivery occurs earlier than such required delivery date) after the end of each fiscal year of the General Partner, duplicate copies of, 

(1) a consolidated balance sheet of the General Partner and its Subsidiaries as at the end of such year, and 

(2) consolidated statements of operations, changes in shareholders’ equity and cash flows of the General Partner and its
Subsidiaries for such year, 
 setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable
detail, prepared in accordance with GAAP, and accompanied by an opinion thereon (without a “going concern” or similar qualification or exception and without any qualification or exception as to the scope of the audit on which such opinion
is based) of independent public accountants of recognized national standing, which opinion shall state that such financial statements present fairly, in all material respects, the financial position of the companies being reported upon and their
results of operations and cash flows and have been prepared in conformity with GAAP, and that the examination of such accountants in connection with such financial statements has been made in accordance with generally accepted auditing standards,
and that such audit provides a reasonable basis for such opinion in the circumstances; 
 (e) SEC and Other Reports
— promptly upon their becoming available, one copy of (1) each financial statement, report, notice, proxy statement or similar document sent by the Issuer, the General Partner or any of their Subsidiaries (i) to its creditors under
any Material Credit Facility (excluding information sent to such creditors in the ordinary course of administration of a credit facility, such as information relating to pricing and borrowing availability) or (ii) to its public Securities
holders generally, and (2) each regular or periodic report, each registration statement (without exhibits except as expressly requested by such Purchaser or holder), and each prospectus and all amendments thereto filed by the Issuer, the
General Partner or any of their Subsidiaries with the SEC and of all press releases and other statements made available generally by the Issuer, the General Partner or any of their Subsidiaries to the public concerning developments that are
Material; 
 (f) Notice of Default or Event of Default — promptly, and in any event within five days after a
Responsible Officer of the Issuer or the General Partner obtaining 

  
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knowledge of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given
any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Issuer and/or the General Partner is taking or
proposes to take with respect thereto; 
 (g) Employee Benefits Matters — promptly, and in any event within 10
days after a Responsible Officer of the Issuer or the General Partner obtaining knowledge of any of the following, a written notice setting forth the nature thereof and the action, if any, that the Issuer, the General Partner or any of their ERISA
Affiliates proposes to take with respect thereto: 
 (1) with respect to any Plan, any reportable event, as defined in
section 4043(c) of ERISA and the regulations thereunder, for which notice thereof has not been waived pursuant to such regulations as in effect on the Execution Date; 

(2) the taking by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under
section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the Issuer, the General Partner or any of their ERISA Affiliates of a notice from a Multiemployer Plan that such action has been
taken by the PBGC with respect to such Multiemployer Plan; 
 (3) any event, transaction or condition that could result in
the incurrence of any liability by the Issuer, the General Partner or any of their ERISA Affiliates pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition of
any Lien on any of the rights, properties or assets of the Issuer, the General Partner or any of their ERISA Affiliates pursuant to Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken together with any
other such liabilities or Liens then existing, could reasonably be expected to have a Material Adverse Effect; or 
 (4)
receipt of notice of the imposition of a Material financial penalty (which for this purpose shall mean any tax, penalty or other liability, whether by way of indemnity or otherwise) with respect to one or more
Non-U.S. Plans; 
 (h) Notices from Governmental Authority — promptly,
and in any event within 30 days of receipt thereof, copies of any written notice to the Issuer, the General Partner or any of their Subsidiaries from any Governmental Authority relating to any order, ruling, statute or other law or regulation that
could reasonably be expected to have a Material Adverse Effect; 
 (i) Resignation or Replacement of Independent
Auditors — within 10 days following the date on which the Issuer’s or the General Partner’s independent auditors resign or the Issuer or the General Partner elects to change independent auditors, as the case may be, notification
thereof, together with such further information as the Required Holders may reasonably request; 

  
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 (j) Unencumbered Assets; Summary Property Information — together
with each set of financial statements delivered pursuant Section 7.1(a), (b), (c) or (d), (1) a description of the Unencumbered Assets and (2) summary Property descriptions for all Properties, including their Property Operating Income,
occupancy rates, square footage, property type and date acquired or built; and 
 (k) Requested Information —
with reasonable promptness, such other data and information relating to the business, operations, affairs, financial condition, assets or properties of the Issuer, the General Partner or any of their Subsidiaries (including actual copies of the
Issuer’s Quarterly Report on Form 10-Q, the Issuer’s Annual Report on Form 10-K, the General Partner’s Quarterly Report on Form 10-Q or the General Partner’s Annual Report on Form 10-K) or relating to the ability of the Issuer, the General Partner or any Subsidiary Guarantor to perform its
obligations hereunder, under the Notes or any Subsidiary Guaranty as from time to time may be reasonably requested by any such Purchaser or holder of a Note. 

Section 7.2. Officer’s Certificate. Each set of financial statements delivered to a
Purchaser or a holder of a Note pursuant to Section 7.1(a), (b), (c) or (d) shall be accompanied by a certificate of a Senior Financial Officer of the Issuer and the General Partner: 

(a) Covenant Compliance — setting forth the information from such financial statements that is required in order to
establish whether the Issuer and the General Partner were in compliance with the requirements of Section 10.8 during the quarterly or annual period covered by the financial statements then being furnished (including with respect to each such
provision that involves mathematical calculations, the information from such financial statements that is required to perform such calculations) and reasonably detailed calculations of the maximum or minimum amount, ratio or percentage, as the case
may be, permissible under the terms of such Section, and the calculation of the amount, ratio or percentage then in existence necessary to illustrate the Issuer’s and the General Partner’s compliance with the requirements of
Section 10.8. In the event that any of the Issuer, the General Partner or any of their Subsidiaries has made an election to measure any financial liability using fair value (which election is being disregarded for purposes of determining
compliance with this Agreement pursuant to Section 23.2) as to the period covered by any such financial statement, such Senior Financial Officer’s certificate as to such period shall include a reconciliation from GAAP with respect to such
election; 
 (b) Event of Default — certifying that such Senior Financial Officer has reviewed the relevant terms
hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Issuer, the General Partner and their Subsidiaries from the beginning of the quarterly or annual period covered by the
statements then being furnished to the date of the certificate and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition or
event existed or exists (including any such event or condition resulting from the failure of the Issuer, the General Partner and their Subsidiaries to comply with any Environmental Law), specifying the nature and period of existence thereof and what
action the Issuer and/or the General Partner shall have taken or proposes to take with respect thereto; 

  
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 (c) Subsidiary Guarantors – setting forth a list of all
Subsidiaries, if any, that are Subsidiary Guarantors and certifying that each Subsidiary that is required to be a Subsidiary Guarantor pursuant to Section 9.9(a) is a Subsidiary Guarantor as of the date of such certificate of such Senior
Financial Officer. 
 Section 7.3. Visitation. Each of the Issuer and the General Partner shall permit the
representatives of each Purchaser and each holder of a Note that is an Institutional Investor: 
 (a) No Default
— if no Default or Event of Default then exists, at the expense of such Purchaser or holder and upon reasonable prior notice to the Issuer or the General Partner, but only once for each Purchaser and holder during any calendar year, (1) to
visit the principal executive office of such Person, to discuss the affairs, finances and accounts of such Person and its Subsidiaries with such Person’s officers or (with the consent of such Person, which consent will not be unreasonably
withheld) to visit any other office or property of such Person or any of its Subsidiaries, and (2) (with the consent of such Person, which consent will not be unreasonably withheld), to visit with its independent public accountants, all at such
reasonable times as may be reasonably requested in writing, provided that the Issuer and the General Partner shall be entitled (but not required) to be present at the visitation of any of its offices or properties not constituting its
principal executive office or with its independent public accountants; and 
 (b) Default — if a Default or Event
of Default then exists, at the expense of the Issuer and the General Partner, to visit and inspect any of the offices or properties of such Person or any of its Subsidiaries, to examine all their respective books of account, records, reports and
other papers, to make copies and extracts therefrom, and to discuss their respective affairs, finances and accounts with their respective officers and independent public accountants (and by this provision each of the Issuer and the General Partner
authorizes said accountants to discuss the affairs, finances and accounts of such Person and its Subsidiaries), all at such reasonable times and as often as may be requested in writing, provided that the Issuer and the General Partner shall
be entitled (but not required) to be present at any such visitation with its independent public accountants. 

Section 7.4. Electronic Delivery. Financial statements, opinions of independent certified public accountants,
other information and Officer’s Certificates that are required to be delivered by the Issuer and/or the General Partner pursuant to Sections 7.1(a), (b), (c), (d), (e) or (i) and Section 7.2 shall be deemed to have been delivered if
such Person satisfies any of the following requirements with respect thereto: 
 (a) such financial statements satisfying the
requirements of Section 7.1(a), (b), (c) or (d) and related Officer’s Certificate satisfying the requirements of Section 7.2 and any other information required under Section 7.1(e) or Section 7.1(i) are delivered to
each Purchaser and each holder of a Note by e-mail at the e-mail address set forth in such Purchaser’s or holder’s Purchaser Schedule or as communicated from
time to time in a separate writing delivered to the Issuer and the General Partner; 

  
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 (b) the Issuer shall have timely filed the Issuer’s Quarterly Report on
Form 10-Q or the Issuer’s Form 10-K, satisfying the requirements of Section 7.1(a) or Section 7.1(b), as the case may be, with the SEC on EDGAR or shall
have made such financial statements satisfying the requirements of Section 7.1(a) or (b) available on its home page on the internet, which is located at www.firstindustrial.com as of the Execution Date, and shall have delivered the related
Officer’s Certificate satisfying the requirements of Section 7.2 to each Purchaser and each holder of a Note by e-mail (which e-mail shall include a
notification of such filing with the SEC on EDGAR or such posting on its home page) at the e-mail address set forth in such Purchaser’s or holder’s Purchaser Schedule or as communicated from time to
time in a separate writing delivered to the Issuer and the General Partner; 
 (c) the General Partner shall have timely
filed the General Partner’s QuarterlyReport on Form 10-Q or the General Partner’s Annual Report on Form 10-K, satisfying the requirements of
Section 7.1(c) or Section 7.1(d), as the case may be, with the SEC on EDGAR or shall have made such financial statements satisfying the requirements of Section 7.1(c) or (d) available on its home page on the internet, which is
located at www.firstindustrial.com as of the Execution Date, and shall have delivered the related Officer’s Certificate satisfying the requirements of Section 7.2 to each Purchaser and each holder of a Note by e-mail (which e-mail shall include a notification of such filing with the SEC on EDGAR or such posting on its home page) at the e-mail
address set forth in such Purchaser’s or holder’s Purchaser Schedule or as communicated from time to time in a separate writing delivered to the Issuer and the General Partner; 

(d) such financial statements satisfying the requirements of Section 7.1(a), (b), (c) or (d) and related
Officer’s Certificate satisfying the requirements of Section 7.2 and any other information required under Section 7.1(e) or Section 7.1(i) are timely posted by or on behalf of the Issuer and/or the General Partner on IntraLinks
or on any other similar website to which each Purchaser and each holder of Notes has free access; or 
 (e) the Issuer and/or
the General Partner shall have timely filed any of the items referred to in Section 7.1(e) or Section 7.1(i) with the SEC on EDGAR and shall have made such items available on its home page on the internet or on IntraLinks or on any other
similar website to which each Purchaser and each holder of Notes has free access; 
 provided however, that in no case shall access to such financial
statements, opinions of independent counsel, other information and Officer’s Certificates be conditioned upon any waiver or other agreement or consent (other than confidentiality provisions consistent with Section 21 of this Agreement);
provided further, that in the case of any of clauses (d) or (e), the Issuer and/or the General Partner shall have given each Purchaser and each holder of a Note prior written notice, which may be by
e-mail or in accordance with Section 19, of such posting or filing in connection with each delivery, provided further, that upon request of any Purchaser or any holder to receive paper copies of
such forms, financial statements, opinions of independent counsel, other information and Officer’s Certificates or to receive them by e-mail, the Issuer and/or the General Partner will promptly e-mail them or deliver such paper copies, as the case may be, to such Purchaser or holder. 

  
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 SECTION 8. PAYMENT AND PREPAYMENT OF
THE NOTES. 
 Section 8.1. Maturity. As provided therein, the entire
unpaid principal balance of each Note shall be due and payable on the Maturity Date thereof. 
 Section 8.2.
Optional Prepayments with Make-Whole Amount. The Issuer may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, the Notes, in an amount not less than 5% of the aggregate principal
amount of the Notes then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid, and the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Issuer will give each
holder of Notes written notice of each optional prepayment under this Section 8.2 not less than 10 days and not more than 60 days prior to the date fixed for such prepayment unless the Issuer and the Required Holders agree to another time
period pursuant to Section 18. Each such notice shall specify such date (which shall be a Business Day), the aggregate principal amount of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid
(determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer of the Issuer as to the
estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation. Two Business Days prior to such prepayment, the Issuer
shall deliver to each holder of Notes a certificate of a Senior Financial Officer of the Issuer specifying the calculation of such Make-Whole Amount as of the specified prepayment date. 

Section 8.3. Allocation of Partial Prepayments. In the case of each partial prepayment of the Notes pursuant
to Section 8.2, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called
for prepayment. 
 Section 8.4. Maturity; Surrender, Etc. In the case of each prepayment of Notes
pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment, together with interest on such principal amount accrued to such date and the applicable
Make-Whole Amount, if any. From and after such date, unless the Issuer shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall
cease to accrue. Any Note paid or prepaid in full shall be surrendered to the Issuer and cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note. 

Section 8.5. Purchase of Notes. The Issuer will not, and will not permit any Affiliate to, purchase, redeem,
prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except (a) upon the payment or prepayment of the Notes in accordance with the terms of 

  
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this Agreement and the Notes or (b) pursuant to an offer to purchase made by the Issuer or an Affiliate pro rata to the holders of all Notes at the time outstanding upon the same terms and
conditions. Any such offer shall provide each holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least 10 Business Days. If the holders of more than 50% of the
principal amount of the Notes then outstanding accept such offer, the Issuer shall promptly notify the remaining holders of such fact and the expiration date for the acceptance by holders of Notes of such offer shall be extended by the number of
days necessary to give each such remaining holder at least 10 Business Days from its receipt of such notice to accept such offer. The Issuer will promptly cancel all Notes acquired by it or any Affiliate pursuant to any payment, prepayment or
purchase of Notes pursuant to this Agreement and no Notes may be issued in substitution or exchange for any such Notes. 

Section 8.6. Make-Whole Amount. 

The term “Make-Whole Amount” means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value
of the Remaining Scheduled Payments with respect to the Called Principal of such Note over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the
Make-Whole Amount, the following terms have the following meanings:  
 “Called Principal” means, with respect to
any Note, the principal of such Note that is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

“Discounted Value” means, with respect to the Called Principal of any Note, the amount obtained by discounting all Remaining
Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the
same periodic basis as that on which interest on such Note is payable) equal to the Reinvestment Yield with respect to such Called Principal. 

“Reinvestment Yield” means, with respect to the Called Principal of any Note, the sum of (a) 0.50% plus (b) the
yield to maturity implied by the “Ask Yield(s)” reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page
PX1” (or such other display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities
(“Reported”) having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life,
then such implied yield to maturity will be determined by (1) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial practice and (2) interpolating linearly between the “Ask
Yields” Reported for the applicable most recently issued actively traded on-the-run U.S. Treasury securities with the maturities (i) closest to and greater
than such Remaining Average Life and (ii) closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note. 

  
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 If such yields are not Reported or the yields Reported as of such time are not ascertainable
(including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Note, the sum of (x) 0.50% plus (y) the yield to maturity implied by the U.S. Treasury constant maturity
yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable
successor publication) for the U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a term equal to such
Remaining Average Life, such implied yield to maturity will be determined by interpolating linearly between (A) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and
(B) the U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable
Note. 
 “Remaining Average Life” means, with respect to any Called Principal, the number of years obtained by dividing
(a) such Called Principal into (b) the sum of the products obtained by multiplying (1) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (2) the number of years, computed on the
basis of a 360-day year comprised of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called
Principal and the scheduled due date of such Remaining Scheduled Payment. 
 “Remaining Scheduled Payments” means, with
respect to the Called Principal of any Note, all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its
scheduled due date, provided that if such Settlement Date is not a date on which interest payments are due to be made under such Note, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest
accrued to such Settlement Date and required to be paid on such Settlement Date pursuant to Section 8.2 or Section 12.1. 

“Settlement Date” means, with respect to the Called Principal of any Note, the date on which such Called Principal is to be
prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

Section 8.7. Offer to Prepay Notes in the Event of a Change in Control. 

(a) Notice of Change in Control. The Issuer and the General Partner will, within five Business Days after any
Responsible Officer of either thereof has knowledge of the occurrence of any Change in Control, give written notice of such Change in Control to each holder of Notes and such notice shall contain and constitute an offer by the Issuer to prepay Notes
as described in Section 8.7(b) and shall be accompanied by the certificate described in Section 8.7(e). 
 (b)
Offer to Prepay Notes. The offer to prepay Notes contemplated by Sections 8.7(a) shall be an offer to prepay, in accordance with and subject to this Section 

  
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8.7, all, but not less than all, Notes held by each holder on a date specified in such offer (the “Change in Control Proposed Prepayment Date”), which date shall be a Business
Day not less than 30 days and not more than 60 days after the date of such offer (or if the Change in Control Proposed Prepayment Date shall not be specified in such offer, the Change in Control Proposed Prepayment Date shall be the Business Day
nearest to the 30th day after the date of such offer). 
 (c) Acceptance; Rejection. A holder of Notes may accept or
reject the offer to prepay made pursuant to this Section 8.7 by causing a notice of such acceptance or rejection to be delivered to the Issuer at least five Business Days prior to the Change in Control Proposed Prepayment Date. A failure by a
holder of Notes to so respond to an offer to prepay made pursuant to this Section 8.7 shall be deemed to constitute a rejection of such offer by such holder. 

(d) Prepayment. Prepayment of the Notes to be prepaid pursuant to this Section 8.7 shall be at 100% of the
principal amount of such Notes, together with accrued and unpaid interest on such Notes accrued to the date of prepayment but without any Make-Whole Amount. 

(e) Officer’s Certificate. Each offer to prepay the Notes pursuant to this Section 8.7 shall be accompanied by
a certificate, executed by a Senior Financial Officer of the Issuer and dated the date of such offer, specifying (1) the Change in Control Proposed Prepayment Date, (2) that such offer is made pursuant to this Section 8.7 and that
failure by a holder to respond to such offer by the deadline established in Section 8.7(c) shall result in such offer to such holder being deemed rejected, (3) the principal amount of each Note offered to be prepaid, (4) the interest
that would be due on each Note offered to be prepaid, accrued to the Change in Control Proposed Prepayment Date, (5) that the conditions of this Section 8.7 have been fulfilled and (6) in reasonable detail, the nature and date of the
Change in Control. 
 (f) Change in Control Defined. “Change in Control” means: 

(1) the acquisition of ownership, directly or indirectly, beneficially or of record, by any person or group (within the meaning
of the Securities Exchange Act of 1934 (the “Exchange Act”) and the rules of the SEC thereunder as in effect on the Execution Date), of more than 40% of the aggregate voting power represented by the then outstanding voting stock of
the General Partner; or 
 (2) the occupation of a majority of the seats (other than vacant seats) on the board of directors
of the General Partner by Persons who were neither (i) nominated by the board of directors of the General Partner, (ii) appointed by directors so nominated, nor (iii) nominated by holders of the preferred stock in the General Partner
pursuant to the terms of such stock. 
 Section 8.8. Optional Prepayment at Par. So long as no Default or
Event of Default then exists, the Issuer may, at its option, upon notice as provided below, prepay either series of Notes in full at any time during the 90-day period immediately preceding the Maturity Date of

  
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such series of Notes at 100% of the principal amount of all Notes of such series then outstanding, together with interest accrued thereon to the date of prepayment. The Issuer will give each
holder of Notes of the relevant series (with a copy to each holder of Notes of the other series) written notice of each optional prepayment pursuant to this Section 8.8 not less than 10 days and not more than 60 days prior to the date fixed for
such prepayment; provided that any prepayment of Notes under this Section 8.8 shall not occur prior to the 90th day preceding the Maturity Date of such series of Notes. Each such notice shall specifically refer to this Section 8.8
and shall specify the prepayment date (which shall be a Business Day), the aggregate principal amount of the Notes of the relevant series to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid, and the
accrued interest to be paid on the prepayment date with respect to such principal amount being prepaid. 

Section 8.9. Payments Due on Non-Business Days. Anything in
this Agreement or the Notes to the contrary notwithstanding, (a) except as set forth in clause (b), any payment of interest on any Note that is due on a date that is not a Business Day shall be made on the next succeeding Business Day without
including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; and (b) any payment of principal of or Make-Whole Amount on any Note (including principal due on the Maturity Date of such
Note) that is due on a date that is not a Business Day shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day. 

SECTION 9. AFFIRMATIVE COVENANTS. 

From the Execution Date until the Closing and thereafter, so long as any of the Notes are outstanding, the Issuer and the General Partner
covenant that: 
 Section 9.1. Compliance with Laws. Without limiting Section 10.4, the Issuer and the
General Partner will, and will cause each of their Subsidiaries to, comply with all laws, ordinances or governmental rules or regulations to which each of them is subject (including ERISA, Environmental Laws, the USA PATRIOT Act and the other laws
and regulations that are referred to in Section 5.16) and will obtain and maintain in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their respective properties or to
the conduct of their respective businesses, in each case to the extent necessary to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain
in effect such licenses, certificates, permits, franchises and other governmental authorizations could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 9.2. Insurance. The Issuer and the General Partner will, and will cause each of their Subsidiaries
to, maintain, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance, if adequate reserves are maintained with respect thereto) as is customary in the case of entities of established reputations engaged in the same or a similar business and similarly
situated. 

  
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 Section 9.3. Maintenance of Properties. The Issuer and the
General Partner will, and will cause each of their Subsidiaries to, maintain and keep, or cause to be maintained and kept, their respective properties in good repair, working order and condition (other than ordinary wear and tear), so that the
business carried on in connection therewith may be properly conducted at all times; provided that this Section 9.3 shall not prevent the Issuer, the General Partner or any of their Subsidiaries from discontinuing the operation and the
maintenance of any of its properties if such discontinuance is desirable in the conduct of its business and the Issuer and the General Partner have concluded that such discontinuance could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. 
 Section 9.4. Payment of Taxes and Claims. The Issuer and the
General Partner will, and will cause each of their Subsidiaries to, file all federal, material state and other material tax returns required to be filed in any jurisdiction and to pay and discharge all taxes shown to be due and payable on such
returns and all other taxes, assessments, governmental charges, or levies imposed on them or any of their properties, assets, income or franchises, to the extent the same have become due and payable and before they have become delinquent and all
claims for which sums have become due and payable that have or would become a Lien on properties or assets of the Issuer, the General Partner or any of their Subsidiaries, provided that none of the Issuer, the General Partner or any of their
Subsidiaries need pay any such tax, assessment, charge, levy or claim if (a) the amount, applicability or validity thereof is contested by such Person on a timely basis in good faith and in appropriate proceedings, and such Person has
established adequate reserves therefor in accordance with GAAP on its books or (b) the nonpayment of all such taxes, assessments, charges, levies and claims could not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. 
 Section 9.5. Corporate Existence, Etc. The Issuer and the General Partner will at all
times preserve and keep their respective partnership or corporate existence in full force and effect. Subject to Section 10.2, the Issuer and the General Partner will at all times preserve and keep in full force and effect the corporate or
other legal existence of each of their Subsidiaries and all rights and franchises of the Issuer and the General Partner and their Subsidiaries unless, in the good faith judgment of the Issuer and the General Partner, the termination of or failure to
preserve and keep in full force and effect such corporate or other existence, right or franchise could not, individually or in the aggregate, have a Material Adverse Effect. 

Section 9.6. Books and Records. The Issuer and the General Partner will, and will cause each of their
Subsidiaries to, maintain proper books of record and account in conformity with GAAP and all applicable requirements of any Governmental Authority having legal or regulatory jurisdiction over such Person, as the case may be. The Issuer and the
General Partner will, and will cause each of their Subsidiaries to, keep books, records and accounts which, in reasonable detail, accurately reflect all transactions and dispositions of assets. The Issuer, the General Partner and each of their
Subsidiaries have devised a system of internal accounting controls sufficient to provide reasonable assurances that their respective books, records, and accounts accurately reflect all transactions and dispositions of assets and the Issuer and the
General Partner will, and will cause each of their Subsidiaries to, continue to maintain such system. 

  
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 Section 9.7. REIT Status. The General Partner shall
maintain its status as, and election to be treated as, a REIT under the Code. 
 Section 9.8. Exchange
Listing. The General Partner will maintain at least one class of its common shares having trading privileges on the New York Stock Exchange or the American Stock Exchange or which is the subject of price quotations in the over-the-counter market as reported by the National Association of Securities Dealers Automated Quotation System. 

Section 9.9. Subsidiary Guarantors. 

(a) The Issuer and the General Partner will cause each of their Subsidiaries that guarantees or otherwise becomes liable at any
time, whether as a borrower or an additional or co-borrower or otherwise, for or in respect of any Indebtedness under any Material Credit Facility to, concurrently therewith: 

(1) enter into an agreement in form and substance reasonably satisfactory to the Required Holders providing for the guarantee
by such Subsidiary, on a joint and several basis with all other such Subsidiaries, of (i) the prompt payment in full when due of all amounts payable by the Issuer pursuant to the Notes (whether for principal, interest, Make-Whole Amount or
otherwise) and this Agreement, including all indemnities, fees and expenses payable by the Issuer hereunder or thereunder and (ii) the prompt, full and faithful performance, observance and discharge by the Issuer and the General Partner of each
and every covenant, agreement, undertaking and provision required pursuant to the Notes or this Agreement to be performed, observed or discharged by such Person (a “Subsidiary Guaranty”); and 

(2) deliver the following to each holder of a Note: 

(i) an executed counterpart of such Subsidiary Guaranty; 

(ii) to the extent required or otherwise provided in connection with such Subsidiary guaranteeing or otherwise becoming liable
with respect to any Indebtedness under any Material Credit Facility, a certificate signed by an authorized Responsible Officer of such Subsidiary containing representations and warranties on behalf of such Subsidiary to the same effect, mutatis
mutandis, as those contained in Sections 5.1, 5.2, 5.6, 5.7 and 5.19 of this Agreement (but with respect to such Subsidiary and such Subsidiary Guaranty rather than the Issuer and the General Partner); 

(iii) to the extent required or otherwise provided in connection with such Subsidiary guaranteeing or otherwise becoming
liable with respect to any Indebtedness under any Material Credit Facility, all documents as may be reasonably requested by the Required Holders to evidence the due organization, continuing existence and, where applicable, good standing of such
Subsidiary and the due authorization by all requisite action on the part of such Subsidiary of the execution and delivery of such Subsidiary Guaranty and the performance by such Subsidiary of its obligations thereunder; and 

  
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 (iv) to the extent required or otherwise provided in connection with such
Subsidiary guaranteeing or otherwise becoming liable with respect to any Indebtedness under any Material Credit Facility, an opinion of counsel reasonably satisfactory to the Required Holders covering such matters relating to such Subsidiary and
such Subsidiary Guaranty as the Required Holders may reasonably request. 
 (b) At the request of the Issuer and the General
Partner and by written notice to each holder of Notes, any Subsidiary Guarantor that has provided a Subsidiary Guaranty pursuant to Section 9.9(a) shall be discharged from all of its obligations and liabilities under its Subsidiary Guaranty and
shall be automatically released from its obligations thereunder without the need for the execution or delivery of any other document by the holders, provided that (1) if such Subsidiary Guarantor is a guarantor or is otherwise liable for
or in respect of any Material Credit Facility, then such Subsidiary Guarantor has been released and discharged (or will be released and discharged concurrently with the release of such Subsidiary Guarantor under its Subsidiary Guaranty) under such
Material Credit Facility, (2) at the time of, and after giving effect to, such release and discharge, no Default or Event of Default shall have occurred and be continuing, (3) no amount is then due and payable under its Subsidiary
Guaranty, (4) if in connection with such Subsidiary Guarantor being released and discharged under any Material Credit Facility, any fee or other form of consideration is given to any holder of Indebtedness under such Material Credit Facility
for such release, the holders of the Notes shall receive equivalent consideration substantially concurrently therewith and (5) each holder shall have received a certificate of a Responsible Officer of the Issuer and the General Partner
certifying as to the matters set forth in clauses (1) through (4). 
 Although it will not be a Default or an Event of Default if the
Issuer or the General Partner fails to comply with any provision of Section 9 on or after the Execution Date and prior to the Closing, if such a failure occurs, then any of the Purchasers may elect not to purchase the Notes on the date of
Closing that is specified in Section 3. 
 SECTION 10. NEGATIVE COVENANTS. 

From the Execution Date until the Closing and thereafter, so long as any of the Notes are outstanding, the Issuer and the General Partner
covenant that: 
 Section 10.1. Transactions with Affiliates. Neither the Issuer nor the General Partner
will, or will permit any of their Subsidiaries to, enter into directly or indirectly any transaction or group of related transactions (including the purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with
any Affiliate (other than the Issuer, the General Partner or another of their Subsidiaries), except in the ordinary course and pursuant to the reasonable requirements of the Issuer’s, the General Partner’s or such Subsidiary’s
business and upon fair and reasonable terms no less favorable to the Issuer, the General Partner or such Subsidiary than would be obtainable in a comparable arm’s-length transaction with a Person not an
Affiliate. 

  
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 Section 10.2. Mergers and Disposition. 

Neither the Issuer nor the General Partner will enter into any merger, consolidation, reorganization or liquidation or transfer or otherwise
dispose of all or a substantial portion of its properties, except for such transactions (a) that occur between Wholly-Owned Subsidiaries, (b) where the Issuer and the General Partner are the surviving entities and there is no change in
business conducted or loss of an Investment Grade Rating, and no Default or Event of Default results from such transaction or (c) as are otherwise approved in advance by the Required Holders. To the extent not reported on the General
Partner’s Form 8-K filings, the Issuer will notify the holders of Notes of any single event acquisition (whether individually or consummated as a series of related acquisitions pursuant to documentation
closed concurrently), disposition, merger or asset purchase involving assets valued in excess of 25% of the then current Market Value Net Worth and certify compliance with the covenants contained in Section 10.8 after giving effect to such
proposed acquisition, disposition, merger or asset purchase. 
 Section 10.3. Change in Business. 

(a) Neither the Issuer nor the General Partner will engage in any business if, as a result, the general nature of the business
in which the Issuer and the General Partner, taken as a whole, would then be engaged would be substantially changed from the general nature of the business in which the Issuer and the General Partner, taken as a whole, are engaged on the Execution
Date. 
 (b) Neither the Issuer nor any of its Subsidiaries or Investment Affiliates will undertake any business other than
the acquisition, development, ownership, management, operation and leasing of industrial/warehouse properties and business activities ancillary, incidental or otherwise reasonably related thereto. 

Section 10.4. Economic Sanctions, Etc. Neither the Issuer nor the General Partner will, or will permit any
Controlled Entity, to (a) become (including by virtue of being owned or controlled by a Blocked Person), own or control a Blocked Person or (b) directly or indirectly have any investment in or engage in any dealing or transaction
(including any investment, dealing or transaction involving the proceeds of the Notes) with any Person if such investment, dealing or transaction (1) would cause any Purchaser or holder or any affiliate of such Purchaser or holder to be in
violation of, or subject to sanctions under, any law or regulation applicable to such Purchaser or holder, or (2) is prohibited by or subject to sanctions under any U.S. Economic Sanctions Laws. 

Section 10.5. Change of Management of Properties. Neither the Issuer nor the General Partner will change the
management of the Properties, except that (a) any Affiliate of the Issuer or the General Partner shall be permitted to manage any of the Properties and (b) the Issuer, the General Partner or any of their Subsidiaries may engage and/or
replace third-party property managers with respect to any Property, provided that the aggregate book value of all Properties at any one time under third-party management shall not exceed 30% of the aggregate book value of all of the
Properties at such time. 

  
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 Section 10.6. Change of Issuer Ownership. Neither the
Issuer nor the General Partner will allow (a) the General Partner to own less than 51% of the partnership interests in the Issuer, (b) the General Partner not to be the sole general partner of the Issuer, (c) the Issuer to
be controlled by a Person other than the General Partner or (d) any pledge of, other encumbrance on, or conversion to limited partnership interests of, any of the general partnership interests in the Issuer. 

Section 10.7. Liens. Neither the Issuer nor the General Partner will, or will permit any of their
Subsidiaries to, create, incur, or suffer to exist any Lien in, of or on the Property of any member of the Consolidated Operating Partnership other than: 

(a) Liens for taxes, assessments or governmental charges or levies on their Property if the same shall not at the time be
delinquent or thereafter can be paid without penalty, or are being contested in good faith and by appropriate proceedings and for which adequate reserves shall have been set aside on their books; 

(b) Liens which arise by operation of law, such as carriers’, warehousemen’s, landlords’, materialmen and
mechanics’ liens and other similar liens arising in the ordinary course of business which secure payment of obligations not more than 30 days past due or which are being contested in good faith by appropriate proceedings and for which
adequate reserves shall have been set aside on its books; 
 (c) Liens arising out of pledges or deposits under worker’s
compensation laws, unemployment insurance, old age pensions, or other social security or retirement benefits, or similar legislation; 

(d) utility easements, building restrictions, zoning restrictions, easements and such other encumbrances or charges against
real property as are of a nature generally existing with respect to properties of a similar character and which do not in any material way affect the marketability of the same or interfere with the use thereof in the business of the Issuer, the
General Partner or their Subsidiaries; 
 (e) Liens of any Subsidiary in favor of the Issuer or the General Partner; and 

(f) so long as immediately prior to the creation, assumption or incurring of such Lien, and immediately thereafter, no Default
or Event of Default would be in existence, Liens on Properties securing Indebtedness not prohibited hereunder, provided, that notwithstanding the foregoing, neither the Issuer nor the General Partner will, or will permit any of their
Subsidiaries to, secure pursuant to this Section 10.7(f) any Indebtedness outstanding under or pursuant to any Material Credit Facility unless and until the Notes (and the Guaranty, any Subsidiary Guaranty and any other guarantee delivered in
connection therewith) shall concurrently be secured equally and ratably with such Indebtedness pursuant to documentation reasonably acceptable to the Required Holders in substance and in form, including an intercreditor agreement and opinions of
counsel to the Issuer, the General Partner and/or any such Subsidiary, as the case may be, from counsel that is reasonably acceptable to the Required Holders. 

Liens permitted pursuant to this Section 10.7 shall be deemed to be “Permitted Liens.” 

  
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 Section 10.8. Indebtedness and Cash Flow Covenants.
Neither the Issuer nor the General Partner will permit or suffer: 
 (a) as of the last day of any fiscal quarter of the
Issuer and the General Partner, the ratio of (1) the sum of (i) EBITDA of the Consolidated Operating Partnership plus (ii) interest income (other than any interest income from assets being used to support Defeased Debt) to
(2) the sum of (i) Debt Service plus, without duplication, (ii) all payments on account of preferred stock or preferred partnership units of any member of the Consolidated Operating Partnership plus (iii) all Ground
Lease Payments payable by any member of the Consolidated Operating Partnership to the extent not deducted as an expense in calculating EBITDA of the Consolidated Operating Partnership, to be less than 1.50 to 1.00, with all such calculations in
clauses (1) and (2) above based on the results of the four consecutive fiscal quarters of the Issuer and the General Partner then ended; 

(b) as of the last day of any fiscal quarter of the Issuer and the General Partner, the Consolidated Leverage Ratio to
exceed 60%; provided that, if any Material Acquisition shall occur during any fiscal quarter, then at the election of the Issuer upon delivery of written notice to the holders of the Notes concurrently with or prior to delivery of the
Officer’s Certificate pursuant to Section 7.2(a) with respect to the relevant quarterly or annual period and provided that no Default or Event of Default has occurred and is continuing (other than as a result of the Consolidated Leverage
Ratio as of the end of such fiscal quarter being greater than 60% but less than or equal to 65%), the maximum Consolidated Leverage Ratio shall be increased to 65% for such fiscal quarter and the next succeeding fiscal quarter (any period with such
increase a “Consolidated Leverage Ratio Increase Period”); provided, further, that (1) no more than two Consolidated Leverage Ratio Increase Periods may be elected by the Issuer during the term of this Agreement
and (2) any such Consolidated Leverage Ratio Increase Periods shall be non-consecutive (the two foregoing provisos taken together, the “Consolidated Leverage Ratio Spike”).
Notwithstanding the foregoing, if at any time the Bank Credit Agreement (or, if at such time the Bank Credit Agreement does not exist, any Material Credit Facility) (x) shall cease to provide for an increase in the maximum percentage threshold
in respect of the “consolidated leverage ratio” or similar covenant therein upon a material acquisition (a “Bank CLR Spike”), then the Consolidated Leverage Ratio Spike shall be deemed to be automatically deleted from this
Section 10.8(b), or (y) shall contain a Bank CLR Spike that is more restrictive on the Issuer and the General Partner than the Consolidated Leverage Ratio Spike then in effect herein, then the Consolidated Leverage Ratio Spike shall be
deemed to be automatically, and without further action, made similarly more restrictive; provided that, if after the Consolidated Leverage Ratio Spike then in effect herein has been deleted or made more restrictive, a Bank CLR Spike is re-incorporated into the Bank Credit Agreement (or, if at such time the Bank Credit Agreement does not exist, each Material Credit Facility) or a Bank CLR Spike in the Bank Credit Agreement (or, if at such time the
Bank Credit Agreement does not exist, each Material Credit Facility) is modified to become less restrictive on the Issuer and the General Partner (either event, a “Bank CLR Spike Loosening”), then, so long as no Default or Event of
Default shall have occurred and be continuing and each of the holders of the Notes has received notice thereof from the Issuer, the Consolidated Leverage Ratio 

  
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Spike shall concurrently be similarly re-incorporated or so modified, as applicable; provided, however, that in no event shall any Bank CLR
Spike Loosening result in the Consolidated Leverage Ratio Spike then in effect herein ever being less restrictive on the Issuer and the General Partner than that expressly set forth herein on the Execution Date. If the Issuer, the General Partner or
any of their Subsidiaries shall pay any fee or other compensation to any Person party to the Bank Credit Agreement or, if applicable, any Material Credit Facility (other than (A) commitment fees and similar fees given in consideration of a new
extension of credit or in connection with an extension or replacement of the Bank Credit Agreement or, if applicable, such Material Credit Facility, and (B) amounts paid in satisfaction of principal or interest under the Bank Credit Agreement
or, if applicable, such Material Credit Facility) as an inducement to receiving a Bank CLR Spike Loosening, the corresponding loosening of the Consolidated Leverage Ratio Spike shall not become effective under this Agreement until the holders of the
Notes receive equivalent consideration (and for the avoidance of doubt such amounts shall be proportional to the aggregate principal amount of Notes outstanding as compared to the sum of the aggregate outstanding principal amount of the Indebtedness
and the aggregate amount of undrawn commitments under the Bank Credit Agreement or, if applicable, such Material Credit Facility); 

(c) as of the last day of any fiscal quarter of the Issuer and the General Partner, the ratio of Consolidated Senior Unsecured
Debt to Value of Unencumbered Assets (such ratio, the “Unencumbered Leverage Ratio”) to exceed 60%; provided that, if any Material Acquisition shall occur during any fiscal quarter, then at the election of the Issuer upon
delivery of written notice to the holders of the Notes concurrently with or prior to delivery of the Officer’s Certificate pursuant to Section 7.2(a) with respect to the relevant quarterly or annual period and provided that no Default or
Event of Default has occurred and is continuing (other than as a result of the Unencumbered Leverage Ratio as of the end of such fiscal quarter being greater than 60% but less than or equal to 65%), the maximum Unencumbered Leverage Ratio shall be
increased to 65% for such fiscal quarter and the next succeeding fiscal quarter (any period with such increase an “Unencumbered Leverage Ratio Increase Period”); provided, further, that (1) no more than two
Unencumbered Leverage Ratio Increase Periods may be elected by the Issuer during the term of this Agreement and (2) any such Unencumbered Leverage Ratio Increase Periods shall be non-consecutive (the two
foregoing provisos taken together, the “Unencumbered Leverage Ratio Spike”). Notwithstanding the foregoing, if at any time the Bank Credit Agreement (or, if at such time the Bank Credit Agreement does not exist, any Material Credit
Facility) (x) shall cease to provide for an increase in the maximum percentage threshold in respect of the “unencumbered leverage ratio” or similar covenant therein upon a material acquisition (a “Bank ULR Spike”)
then the Unencumbered Leverage Ratio Spike shall be deemed to be automatically deleted from this Section 10.8(c) or (y) shall contain a Bank ULR Spike that is more restrictive on the Issuer and the General Partner than the Unencumbered
Leverage Ratio Spike then in effect herein, then the Unencumbered Leverage Ratio Spike shall be deemed to be automatically, and without further action, made similarly more restrictive; provided that, if after the Unencumbered Leverage Ratio
Spike then in effect herein has been deleted or made more restrictive, a Bank ULR Spike is re-incorporated into the Bank Credit Agreement (or, if at such time the Bank Credit Agreement does not exist, each
Material 

  
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Credit Facility) or an Unencumbered Leverage Ratio Spike in the Bank Credit Agreement (or, if at such time the Bank Credit Agreement does not exist, each Material Credit Facility) is modified to
become less restrictive on the Issuer and the General Partner (either event, a “Bank ULR Spike Loosening”), then, so long as no Default or Event of Default shall have occurred and be continuing and each of the holders of the Notes
has received notice thereof from the Issuer, the Unencumbered Leverage Ratio Spike shall concurrently be similarly re-incorporated or so modified, as applicable; provided, however, that in no
event shall any Bank ULR Spike Loosening result in the Unencumbered Leverage Ratio Spike then in effect herein ever being less restrictive on the Issuer and the General Partner than that expressly set forth herein on the Execution Date. If the
Issuer, the General Partner or any of their Subsidiaries shall pay any fee or other compensation to any Person party to the Bank Credit Agreement or, if applicable, any Material Credit Facility (other than (A) commitment fees and similar fees
given in consideration of a new extension of credit or in connection with an extension or replacement of the Bank Credit Agreement or, if applicable, such Material Credit Facility, and (B) amounts paid in satisfaction of principal or interest
under the Bank Credit Agreement or, if applicable, such Material Credit Facility) as an inducement to receiving a Bank ULR Spike Loosening, the corresponding loosening of the Unencumbered Leverage Ratio Spike shall not become effective under this
Agreement until the holders of the Notes receive equivalent consideration (and for the avoidance of doubt such amounts shall be proportional to the aggregate principal amount of Notes outstanding as compared to the sum of the aggregate outstanding
principal amount of the Indebtedness and the aggregate amount of undrawn commitments under the Bank Credit Agreement or, if applicable, such Material Credit Facility); 

(d) as of the last day of any fiscal quarter of the Issuer and the General Partner, Consolidated Secured Debt to
exceed 40% of Implied Capitalization Value; or 
 (e) as of the last day of any fiscal quarter of the Issuer and the
General Partner, the ratio of (1) Property Operating Income from Unencumbered Assets that are not Assets Under Development for such fiscal quarter to (2) interest expense on all Consolidated Senior Unsecured Debt for such fiscal quarter to
be less than 1.75 to 1.00 (the “Unsecured Interest Coverage Ratio”). Notwithstanding the foregoing, the Unsecured Interest Coverage Ratio shall be deemed automatically (i) amended or waived in this Agreement at such time
as each holder of a Note shall have received notice in writing from the Issuer certifying that (A) the “unsecured interest coverage ratio” shall have been so amended or waived under the Bank Credit Agreement (or, if at such time the
Bank Credit Agreement does not exist, under each applicable Material Credit Facility) and (B) no Default or Event of Default shall have occurred and be continuing, provided that, if any such amendment has the effect of making the
Unsecured Interest Coverage Ratio more restrictive on the Issuer and the General Partner, then such amendment shall be immediately effective regardless of whether such notice has then been delivered and (ii) deleted from this Agreement at such
time as each holder of a Note shall have received notice in writing from the Issuer certifying that (A) the “unsecured interest coverage ratio” shall have been deleted from the Bank Credit Agreement (or, if at such time the Bank
Credit Agreement does not exist, from each applicable Material Credit Facility) or that the Bank Credit Agreement shall have been terminated and that no 

  
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amounts are outstanding thereunder and that no other Material Credit Facility includes an “unsecured interest coverage ratio” and (B) no Default or Event of Default shall have
occurred and be continuing. If the Issuer, the General Partner or any of their Subsidiaries shall pay any fee or other compensation to any Person party to the Bank Credit Agreement or, if applicable, any Material Credit Facility, as an inducement to
receiving any consent, amendment, waiver, deletion or termination with respect to the “unsecured interest coverage ratio” as aforesaid, such consent, amendment, waiver, deletion or termination with respect to the Unsecured Interest
Coverage Ratio shall not become effective under this Agreement until the holders of the Notes receive equivalent consideration. 
 The foregoing covenants
set forth in paragraphs (c) and (e) above shall be tested at the end of each fiscal quarter of the Issuer and the General Partner (for the applicable reporting period) and on a pro forma basis upon any Asset Sale or incurrence of any
Indebtedness by the Consolidated Operating Partnership (using the latest quarterly financial statements then available and taking into account the proposed Asset Sale and/or incurrence of Indebtedness). To the extent the Consolidated Operating
Partnership has Defeased Debt, both the underlying debt and interest payable thereon and the financial assets used to defease such debt and interest earned thereon shall be excluded from calculations of the foregoing financial covenants. All
financial computations required under Sections 10.8(a) through (d), inclusive, shall be made in accordance with GAAP as in effect on the Execution Date (“Static GAAP”); provided that, if as a result of any change in GAAP from
time to time, any of the financial covenants contained in Sections 10.8(a) through 10.8(d), inclusive, or any of the defined terms used therein are determined by the Required Holders to differ from Static GAAP, the Issuer and the General Partner
shall include relevant reconciliations in reasonable detail between GAAP and Static GAAP with respect to the applicable covenant compliance calculations contained in each certificate of a Senior Financial Officer delivered pursuant to
Section 7.2(a) after the date of such request. 
 Section 10.9. Negative Pledge. Neither the Issuer
nor the General Partner will, or will permit any of their Subsidiaries to, allow any “negative pledge” on any Project then included in Unencumbered Assets restricting the Issuer’s (or any Wholly-Owned Subsidiary’s) right to sell
or encumber such Project to be given to any other lender or creditor other than a Permitted Negative Pledge or, if such a negative pledge is given, the Project affected shall be immediately excluded from Unencumbered Assets. 

Section 10.10. Distributions. The Issuer will not make any distributions to the General Partner and the
General Partner will not make distributions to its shareholders if, at the time of the making of such distribution, an Event of Default then exists under Section 11(a) or 11(b) or an Event of Default arising from a breach of a financial
covenant contained in Section 10.8 has occurred and is continuing. Notwithstanding the foregoing, the Issuer shall be permitted to make distributions to the General Partner and the General Partner shall be permitted at all times to make
distributions of whatever amount is necessary to maintain its tax status as a REIT. 
 Although it will not be a Default or an Event of
Default if the Issuer or the General Partner fails to comply with any provision of Section 10 before or after giving effect to the issuance of the Notes on a pro forma basis, if such a failure occurs, then any of the Purchasers may elect not to
purchase the Notes on the date of Closing that is specified in Section 3. 

  
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 SECTION 11. EVENTS OF DEFAULT. 

An “Event of Default” shall exist if any of the following conditions or events shall occur and be continuing: 

(a) the Issuer defaults in the payment of any principal or Make-Whole Amount, on any Note when the same becomes due and
payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or 
 (b) the Issuer defaults
in the payment of any interest on any Note for more than five days after the same becomes due and payable; or 
 (c) the
Issuer or the General Partner defaults in the performance of or compliance with any term contained in Section 7.1(f), Section 9.7, Section 9.8, or Section 10; or 

(d) the Issuer, the General Partner or any Subsidiary Guarantor defaults in the performance of or compliance with any term
contained herein (other than those referred to in Sections 11(a), (b) and (c)) or in any Subsidiary Guaranty and such default is not remedied within 30 days after the earlier of (1) a Responsible Officer of the Issuer or the General Partner
obtaining actual knowledge of such default and (2) the Issuer or the General Partner receiving written notice of such default from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer
specifically to this Section 11(d)); or 
 (e) (1) any representation or warranty made in writing by or on behalf of the
Issuer or the General Partner or by any officer of the Issuer or the General Partner in this Agreement or any writing furnished in connection with the transactions contemplated hereby proves to have been false or incorrect in any material respect on
the date as of which made, or (2) any representation or warranty made in writing by or on behalf of any Subsidiary Guarantor or by any officer of such Subsidiary Guarantor in any Subsidiary Guaranty or any writing furnished in connection with
such Subsidiary Guaranty proves to have been false or incorrect in any material respect on the date as of which made; or 

(f) (1) the Issuer, the General Partner or any of their Subsidiaries is in default (as principal or as guarantor or other
surety) in the payment of any principal of or premium or make-whole amount or interest on any Indebtedness (other than Nonrecourse Indebtedness) that is outstanding in an aggregate principal amount of at least $75,000,000 (or, if lower, the
threshold amount for triggering a similar default under the Bank Credit Agreement (or if no Bank Credit Agreement exists, the lowest threshold amount under any Material Credit Facility)) (or its equivalent in the relevant currency of payment) beyond
any period of grace provided with respect thereto, or (2) the Issuer, the General Partner or any of their Subsidiaries is in default in the performance of or compliance with any term of any evidence of any Indebtedness (other than Nonrecourse
Indebtedness) in an aggregate outstanding principal amount of at least $75,000,000 (or, if lower, the threshold amount for triggering a similar default under the Bank Credit Agreement (or if no Bank Credit Agreement exists, the lowest threshold
amount under any Material Credit 

  
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Facility)) (or its equivalent in the relevant currency of payment) or of any mortgage, indenture or other agreement relating thereto or any other condition exists, and as a consequence of such
default or condition such Indebtedness has become, or has been declared (or one or more Persons are entitled to declare such Indebtedness to be), due and payable before its stated maturity or before its regularly scheduled dates of payment, or
(3) as a consequence of the occurrence or continuation of any event or condition (other than (x) a Change in Control where the Issuer has complied with the requirements of Section 8.7 or (y) the passage of time or the right of
the holder of Indebtedness to convert such Indebtedness into equity interests), (i) the Issuer, the General Partner or any of their Subsidiaries has become obligated to purchase or repay Indebtedness (other than Nonrecourse Indebtedness) before its
regular maturity or before its regularly scheduled dates of payment in an aggregate outstanding principal amount of at least $75,000,000 (or, if lower, the threshold amount for triggering a similar default under the Bank Credit Agreement (or if no
Bank Credit Agreement exists, the lowest threshold amount under any Material Credit Facility)) (or its equivalent in the relevant currency of payment), or (ii) one or more Persons have the right to require the Issuer, the General Partner or any
of their Subsidiaries so to purchase or repay such Indebtedness; or 
 (g) the Issuer, the General Partner or any Significant
Subsidiary (1) is generally not paying, or admits in writing its inability to pay, its debts as they become due, (2) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or
arrangement or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction, (3) makes an assignment for the benefit of its creditors,
(4) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, (5) is adjudicated as insolvent or to be liquidated, or
(6) takes corporate or other organizational action for the purpose of any of the foregoing; or 
 (h) a court or other
Governmental Authority of competent jurisdiction enters an order appointing, without consent by the Issuer, the General Partner or any Significant Subsidiary, a custodian, receiver, trustee or other officer with similar powers with respect to it or
with respect to any substantial part of its property, or constituting an order for relief or approving a petition for relief or reorganization or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy or
insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of the Issuer, the General Partner or any Significant Subsidiary, or any such petition shall be filed against the
Issuer, the General Partner or any Significant Subsidiary and such petition shall not be dismissed within 60 days; or 
 (i)
any event occurs with respect to the Issuer, the General Partner or any Significant Subsidiary which under the laws of any jurisdiction is analogous to any of the events described in Section 11(g) or Section 11(h), provided that the
applicable grace period, if any, which shall apply shall be the one applicable to the relevant proceeding which most closely corresponds to the proceeding described in Section 11(g) or Section 11(h); or 

  
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 (j) one or more final judgments or orders for the payment of money
aggregating in excess of $75,000,000 (or, if lower, the threshold amount for triggering a similar default under the Bank Credit Agreement (or if no Bank Credit Agreement exists, the lowest threshold amount under any Material Credit Facility)) (or
its equivalent in the relevant currency of payment) other than with respect to any Nonrecourse Indebtedness, including any such final order enforcing a binding arbitration decision, are rendered against one or more of the Issuer, the General Partner
and their Subsidiaries and which judgments are not, within 60 days after entry thereof, paid, bonded, discharged or stayed pending appeal, or are not discharged within 60 days after the expiration of such stay; or 

(k) if (1) any Plan shall fail to satisfy the minimum funding standards of ERISA or the Code for any plan year or part
thereof or a waiver of such standards or extension of any amortization period is sought or granted under section 412 of the Code, (2) a notice of intent to terminate any Plan shall have been or is reasonably expected to be filed with the PBGC
or the PBGC shall have instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified the Issuer, the General Partner or any of their ERISA Affiliates that a Plan may become a
subject of any such proceedings, (3) there is any “amount of unfunded benefit liabilities” (within the meaning of section 4001(a)(18) of ERISA) under one or more Plans, determined in accordance with Title IV of ERISA, (4) the
aggregate present value of accrued benefit liabilities under all funded Non-U.S. Plans exceeds the aggregate current value of the assets of such Non-U.S. Plans allocable
to such liabilities, (5) the Issuer, the General Partner or any of their ERISA Affiliates shall have incurred or is reasonably expected to incur any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the
Code relating to employee benefit plans, (6) the Issuer, the General Partner or any of their ERISA Affiliates withdraws from any Multiemployer Plan, (7) the Issuer, the General Partner or any of their Subsidiaries establishes or amends any
employee welfare benefit plan that provides post-employment welfare benefits in a manner that would increase the liability of the Issuer, the General Partner or any of their Subsidiaries thereunder, (8) the Issuer, the General Partner or any of
their Subsidiaries fails to administer or maintain a Non-U.S. Plan in compliance with the requirements of any and all applicable laws, statutes, rules, regulations or court orders or any Non-U.S. Plan is involuntarily terminated or wound up, or (9) the Issuer, the General Partner or any of their Subsidiaries becomes subject to the imposition of a financial penalty (which for this purpose shall
mean any tax, penalty or other liability, whether by way of indemnity or otherwise) with respect to one or more Non-U.S. Plans; and any such event or events described in clauses (1) through (9) above,
either individually or together with any other such event or events, could reasonably be expected to have a Material Adverse Effect. As used in this Section 11(k), the terms “employee benefit plan” and “employee welfare
benefit plan” shall have the respective meanings assigned to such terms in sections 3(3) and 3(1) of ERISA; or 

(l) any Subsidiary Guaranty shall cease to be in full force and effect, any Subsidiary Guarantor or any Person acting on behalf
of such Subsidiary Guarantor shall contest in any manner the validity, binding nature or enforceability of any Subsidiary Guaranty, or the obligations of any Subsidiary Guarantor under any Subsidiary Guaranty are not or cease to be legal, valid,
binding and enforceable in accordance with the terms of such Subsidiary Guaranty. 

  
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 SECTION 12. REMEDIES ON
DEFAULT, ETC. 
 Section 12.1. Acceleration. 

(a) If an Event of Default with respect to the Issuer or the General Partner described in Section 11(g), (h) or (i) (other
than an Event of Default described in clause (1) of Section 11(g) or described in clause (6) of Section 11(g) by virtue of the fact that such clause encompasses clause (1) of Section 11(g)) has occurred, all the Notes
then outstanding shall automatically become immediately due and payable. 
 (b) If any other Event of Default has occurred
and is continuing, the Required Holders may at any time at their option, by notice or notices to the Issuer, declare all the Notes then outstanding to be immediately due and payable. 

(c) If any Event of Default described in Section 11(a) or (b) has occurred and is continuing, any holder or holders
of Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the Issuer, declare all the Notes held by it or them to be immediately due and payable. 

Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by declaration, such Notes will forthwith
mature and the entire unpaid principal amount of such Notes, plus (1) all accrued and unpaid interest thereon (including interest accrued thereon at the applicable Default Rate) and (2) the Make-Whole Amount determined in respect of
such principal amount, shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived. The Issuer acknowledges, and the parties hereto agree, that each holder
of a Note has the right to maintain its investment in the Notes free from repayment by the Issuer (except as herein specifically provided for) and that the provision for payment of a Make-Whole Amount by the Issuer in the event that the Notes are
prepaid or are accelerated as a result of an Event of Default, is intended to provide compensation for the deprivation of such right under such circumstances. 

Section 12.2. Other Remedies. If any Default or Event of Default has occurred and is continuing, and
irrespective of whether any Notes have become or have been declared immediately due and payable under Section 12.1, the holder of any Note at the time outstanding may proceed to protect and enforce the rights of such holder by an action at law,
suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or in any Note or any Subsidiary Guaranty, or for an injunction against a violation of any of the terms hereof or thereof, or in
aid of the exercise of any power granted hereby or thereby or by law or otherwise. 
 Section 12.3.
Rescission. At any time after any Notes have been declared due and payable pursuant to Section 12.1(b) or (c), the Required Holders, by written notice to the Issuer, may rescind and annul any such declaration and its consequences if
(a) the Issuer has paid all overdue interest on the Notes, all principal of and Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid other than by reason of such declaration, and all interest on

  
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such overdue principal and Make-Whole Amount, if any, and (to the extent permitted by applicable law) any overdue interest in respect of the Notes, at the applicable Default Rate,
(b) neither the Issuer nor any other Person shall have paid any amounts which have become due solely by reason of such declaration, (c) all Events of Default and Defaults, other than non-payment of
amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to Section 18, and (d) no judgment or decree has been entered for the payment of any monies due pursuant hereto or to the
Notes. No rescission and annulment under this Section 12.3 will extend to or affect any subsequent Event of Default or Default or impair any right consequent thereon. 

Section 12.4. No Waivers or Election of Remedies, Expenses, Etc. No course of dealing and no delay on the
part of any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder’s rights, powers or remedies. No right, power or remedy conferred by this Agreement, any Subsidiary
Guaranty or any Note upon any holder thereof shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise. Without limiting the obligations of the
Issuer and the General Partner under Section 16, the Issuer will pay to the holder of each Note on demand such further amount as shall be sufficient to cover all documented,
out-of-pocket costs and expenses of such holder incurred in any enforcement or collection under this Section 12, including reasonable and documented attorneys’
fees, expenses and disbursements. 
 SECTION 13. GUARANTEE. 

Section 13.1. The Guarantee. The General Partner hereby absolutely, unconditionally and irrevocably
guarantees, as primary obligor and not merely as surety, to each holder of a Note (a) the full and punctual payment when due, whether at maturity, by acceleration, by redemption or otherwise, of the principal of, Make-Whole Amount, if any, and
interest (including any interest accruing after the commencement of any proceeding in bankruptcy and any additional interest that would accrue but for the commencement of such proceeding) on the Notes and all other obligations of the Issuer under
this Agreement and (b) the full and prompt performance and observance by the Issuer of each and all of the obligations, covenants and agreements required to be performed or observed by the Issuer under the terms of this Agreement and the Notes
(all the foregoing being hereinafter collectively called the “Obligations”). The General Partner further agrees (to the extent permitted by applicable law) that the Obligations may be extended or renewed, in whole or
in part, without notice or further assent from it, and that it shall remain bound under this Section 13 notwithstanding any extension or renewal of any Obligation. 

Section 13.2. Waiver of Defenses. The General Partner waives presentation to, demand of payment from and
protest to the Issuer of any of the Obligations and also waives notice of protest for nonpayment. The General Partner waives notice of any default under this Agreement, the Notes or the other Obligations. The obligation of the General Partner
hereunder shall not be affected by (a) the failure of any holder of a Note to assert any claim or demand or to enforce any right or remedy against the Issuer or any other Person (including any Subsidiary Guarantor) under this Agreement, the
Notes, any Subsidiary Guaranty or any other agreement or otherwise; (b) any extension or renewal of any thereof; (c) any rescission, waiver, amendment or modification of any of the terms or provisions of this Agreement, the Notes, any
Subsidiary Guaranty or any other 

  
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agreement; (d) the acceptance of any security or guarantee (including any Subsidiary Guaranty) by any holder of a Note for the Obligations or any of them; (e) the release of any
security or guarantee (including any Subsidiary Guaranty) held by any holder of a Note for the Obligations or any of them; (f) the release of the Issuer, any Subsidiary Guarantor or any other Person from its liability with respect to the
Obligations; (g) any act or failure to act with regard to the Obligations; (h) the voluntary or involuntary liquidation, dissolution, sale or other disposition of all or substantially all the assets, marshalling of assets and liabilities,
receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization or arrangement under bankruptcy or similar laws, composition with creditors or readjustment of, or other similar procedure affecting the Issuer, any
Subsidiary Guarantor or any other Person or any of the assets of any of them, or any allegation or contest of the validity of this Agreement, the Notes, any Subsidiary Guaranty or any other agreement or the disaffirmance of this Agreement or the
Notes or any Subsidiary Guaranty or any other agreement in any such proceeding; (i) the invalidity or unenforceability of this Agreement, the Notes, any Subsidiary Guaranty or any other agreement; (j) the impossibility or illegality of
performance on the part of the Issuer, any Subsidiary Guarantor or any other Person of its obligations under the Notes, this Agreement, any Subsidiary Guaranty or any other instrument or agreement; (k) in respect of the Issuer, any Subsidiary
Guarantor or any other Person, any change of circumstances, whether or not foreseen or foreseeable, whether or not imputable to the Issuer, any Subsidiary Guarantor or any other Person, or other impossibility of performance through fire, explosion,
accident, labor disturbance, floods, droughts, embargoes, wars (whether or not declared), acts of terrorists, civil commotions, acts of God or the public enemy, delays or failures of suppliers or carriers, inability to obtain materials, action of
any Governmental Authority, change of law or any other causes affecting performance, or other force majeure, whether or not beyond the control of the Issuer, any Subsidiary Guarantor or any other Person and whether or not of the kind above
specified; or (l) any change in the ownership of the Issuer. 
 It being understood that the specific enumeration of the
above-mentioned acts, failures or omissions shall not be deemed to exclude any other acts, failures or omissions, though not specifically mentioned above, it being the purpose and intent of this Section 13.2 that the obligations of the General
Partner shall be absolute, unconditional and irrevocable to the extent herein specified and shall not be discharged, impaired or varied except by the payment of the Obligations and then only to the extent of such payment. 

Section 13.3. Guarantee of Payment. The General Partner further agrees that the guarantee herein constitutes
a guarantee of payment when due (and not a guarantee of collection) and waives any right to require that any resort be had by any holder of a Note to any other Person or to any security held for payment of the Obligations. 

Section 13.4. Guarantee Unconditional. The obligations of the General Partner hereunder shall not be subject
to any reduction, limitation, impairment or termination for any reason (other than payment of the Obligations in full), 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 the General Partner herein shall
not be discharged or impaired or otherwise affected by the failure of any holder of a Note to assert any claim or demand or to enforce any 

  
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remedy under this Agreement, the Notes, any Subsidiary Guaranty 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 the General Partner or would otherwise operate as a discharge of
the General Partner as a matter of law or equity. 
 Section 13.5. Reinstatement. The General Partner
further agrees that the 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 any of the Obligations is rescinded or must otherwise be restored by any holder of a Note
upon the bankruptcy or reorganization of the Issuer or otherwise. 
 Section 13.6. Payment on Demand. In
furtherance of the foregoing and not in limitation of any other right which any holder of a Note has at law or in equity against the General Partner by virtue hereof, upon the failure of the Issuer to pay any of the Obligations when and as the same
shall become due, whether at maturity, by acceleration, by redemption or otherwise, the General Partner hereby promises to and shall, upon receipt of written demand by any holder of a Note, forthwith pay, or cause to be paid, in cash, to the holders
an amount equal to the sum of (a) the unpaid amount of such Obligations then due and owing and (b) accrued and unpaid interest on such Obligations then due and owing (but only to the extent not prohibited by applicable law). 

The General Partner acknowledges and agrees that repeated and successive demands may be made and recoveries may be had hereunder as and when,
from time to time, the Issuer shall default under the terms of a Note or this Agreement and that notwithstanding recovery hereunder for or in respect of any given Default or Event of Default, the guarantee contained in this Section 13 shall
remain in full force and effect and shall apply to each and every subsequent Default or Event of Default. 

Section 13.7. Stay of Acceleration. The General Partner further agrees that, as between itself, on the one
hand, and the holders of the Notes, on the other hand, (a) the maturity of the Obligations guaranteed hereby may be accelerated as provided in this Agreement for the purposes of the guarantee herein, notwithstanding any stay, injunction or
other prohibition preventing such acceleration in respect of the Obligations guaranteed hereby and (b) in the event of any such declaration of acceleration of such Obligations, such Obligations (whether or not due and payable) shall forthwith
become due and payable by the General Partner for the purposes of this guarantee. 
 Section 13.8. No
Subrogation. Notwithstanding any payment or payments made by the General Partner hereunder, the General Partner shall not be entitled to be subrogated to any of the rights of any holder of a Note against the Issuer or any collateral security or
guarantee or right of offset held by any holder for the payment of the Obligations, nor shall the General Partner seek or be entitled to seek any contribution or reimbursement from the Issuer or any Subsidiary Guarantor in respect of payments made
by the General Partner hereunder, until all amounts owing to the holders of the Notes by the Issuer on account of the Obligations are paid in full. If any amount shall be paid to the General Partner on account of such subrogation rights at any time
when all of the Obligations shall not have been paid in full, such amount shall be held by the General Partner in trust for the holders of the Notes, segregated from other funds of the General Partner, and shall, forthwith upon receipt by the
General Partner, be turned over to the holders of the Notes in the exact form received by the General Partner (duly indorsed by the General Partner to the holders of the Notes, if required), to be applied against the Obligations. 

  
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 Section 13.9. Marshalling. No holder of a Note shall be
under any obligation: (a) to marshal any assets in favor of the General Partner or in payment of any or all of the liabilities of the Issuer under or in respect of the Notes and this Agreement or the obligations of the General Partner hereunder
or (b) to pursue any other remedy that the General Partner may or may not be able to pursue itself and that may lighten the General Partner’s burden, any right to which the General Partner hereby expressly waives. 

Section 13.10. Transfer of Notes. All rights of any holder of a Note under this Section 13 shall be
considered to be transferred or assigned at any time or from time to time upon the transfer of any Note held by such holder whether with or without the consent of or notice to the General Partner under this Section 13 or to the Issuer. 

Section 13.11. Consideration. The General Partner has received, or shall receive, direct or indirect benefits
from the making of this guarantee. 
 SECTION 14. REGISTRATION; EXCHANGE;
SUBSTITUTION OF NOTES. 
 Section 14.1.
Registration of Notes. The Issuer shall keep at its principal executive office a register for the registration and registration of transfers of Notes. The name and address of each holder of one or more Notes, each transfer thereof and the
name and address of each transferee of one or more Notes shall be registered in such register. If any holder of one or more Notes is a nominee, then (a) the name and address of the beneficial owner of such Note or Notes shall also be registered
in such register as an owner and holder thereof and (b) at any such beneficial owner’s option, either such beneficial owner or its nominee may execute any amendment, waiver or consent pursuant to this Agreement. Prior to due presentment
for registration of transfer, the Person in whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof for all purposes hereof, and the Issuer shall not be affected by any notice or knowledge to the contrary.
The Issuer shall give to any holder of a Note that is an Institutional Investor promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders of Notes. 

Section 14.2. Transfer and Exchange of Notes. Upon surrender of any Note to the Issuer at the address and to
the attention of the designated officer (all as specified in Section 19(3)), for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied by a written instrument of transfer duly executed by
the registered holder of such Note or such holder’s attorney duly authorized in writing and accompanied by the relevant name, address and other information for notices of each transferee of such Note or part thereof), within 10 Business Days
thereafter, the Issuer shall execute and deliver, at the Issuer’s expense (except as provided below), one or more new Notes of the same series (as requested by the holder thereof) in exchange therefor, in an aggregate principal amount equal to
the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Schedule 1(f) or Schedule 1(g), as applicable. Each such new Note shall be
dated and bear interest from the date to which interest 

  
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shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Issuer may require payment of a sum sufficient to cover any
stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of less than $100,000, provided that if necessary to enable the registration of transfer by a holder of its
entire holding of Notes of a series, one Note of such series may be in a denomination of less than $100,000. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the
representation set forth in Section 6.3. 
 Section 14.3. Replacement of Notes. Upon receipt by the
Issuer at the address and to the attention of the designated officer (all as specified in Section 19(3)) of evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence
shall be, in the case of an Institutional Investor, notice from such Institutional Investor of such ownership and such loss, theft, destruction or mutilation), and 

(a) in the case of loss, theft or destruction, of indemnity reasonably satisfactory to it (provided that if the holder
of such Note is, or is a nominee for, an original Purchaser or another holder of a Note with a minimum net worth of at least $100,000,000 or a Qualified Institutional Buyer, such Person’s own unsecured agreement of indemnity shall be deemed to
be reasonably satisfactory), or 
 (b) in the case of mutilation, upon surrender and cancellation thereof, 

within 10 Business Days thereafter, the Issuer at its own expense shall execute and deliver, in lieu thereof, a new Note of the same series, dated and bearing
interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have been paid thereon. 

SECTION 15. PAYMENTS ON NOTES. 

Section 15.1. Place of Payment. Subject to Section 15.2, payments of principal, Make-Whole Amount, if
any, and interest becoming due and payable on the Notes shall be made in New York, New York at the principal office of Bank of America, N.A. in such jurisdiction. The Issuer may at any time, by notice to each holder of a Note, change the place of
payment of the Notes so long as such place of payment shall be either the principal office of the Issuer in such jurisdiction or the principal office of a bank or trust company in such jurisdiction. 

Section 15.2. Payment by Wire Transfer. So long as any Purchaser or its nominee shall be the holder of any
Note, and notwithstanding anything contained in Section 15.1 or in such Note to the contrary, the Issuer will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, interest and all other amounts becoming due hereunder
by the method and at the address specified for such purpose below such Purchaser’s name in the Purchaser Schedule, or by such other method or at such other address as such Purchaser shall have from time to time specified to the Issuer in
writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Issuer made concurrently with or reasonably promptly after payment or prepayment in full of
any Note, such Purchaser shall surrender such Note for cancellation, reasonably promptly after any such request, 

  
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to the Issuer at its principal executive office or at the place of payment most recently designated by the Issuer pursuant to Section 15.1. Prior to any sale or other disposition of any Note
held by a Purchaser or its nominee, such Purchaser will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender such Note to the Issuer in exchange for a
new Note or Notes pursuant to Section 14.2. The Issuer will afford the benefits of this Section 15.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased by a Purchaser under this Agreement and that
has made the same agreement relating to such Note as the Purchasers have made in this Section 15.2. 

SECTION 15.3. FATCA Information. By acceptance of any Note, the
holder of such Note agrees that such holder will with reasonable promptness duly complete and deliver to the Issuer, or to such other Person as may be reasonably requested by the Issuer, from time to time (a) in the case of any such holder that
is a United States Person, such holder’s United States tax identification number or other forms reasonably requested by the Issuer necessary to establish such holder’s status as a United States Person under FATCA and as may otherwise be
necessary for the Issuer to comply with its obligations under FATCA and (b) in the case of any such holder that is not a United States Person, such documentation prescribed by applicable law (including as prescribed by section 1471(b)(3)(C)(i)
of the Code) and such additional documentation as may be necessary for the Issuer to comply with its obligations under FATCA and to determine that such holder has complied with such holder’s obligations under FATCA or to determine the amount,
if any, to deduct and withhold from any such payment made to such holder. Nothing in this Section 15.3 shall require any holder to provide information that is confidential or proprietary to such holder unless the Issuer is required to obtain
such information under FATCA and, in such event, the Issuer shall treat any such information it receives as confidential. 

SECTION 15.4. Tax Withholding. Except as otherwise required by
applicable law, the Issuer confirms that it will not withhold or will reduce withholding to the maximum extent permitted by applicable law of any tax from any applicable payment to be made to a holder of a Note that is not a United States Person
that delivers to the Issuer, on or about the date on which such holder becomes a holder of a Note under this Agreement (and from time to time thereafter upon the reasonable request of the Issuer), executed copies of IRS Form W- 8BEN or IRS Form W-8BEN-E, as applicable, as well as the applicable “U.S. Tax Compliance Certificate” substantially in the
form attached as Schedule 15.4, in both cases correctly completed and executed. 
 SECTION 16. EXPENSES,
ETC. 
 Section 16.1. Transaction Expenses. Whether or not the
transactions contemplated hereby are consummated, the Issuer and the General Partner will pay all documented costs and expenses (including reasonable attorneys’ fees of one special counsel for the Purchasers and holders of Notes, as a whole
and, if reasonably required by the Required Holders, one local counsel in each applicable jurisdiction and/or one specialty counsel in any applicable specialty for the Purchasers and holders of Notes, as a whole) incurred by the Purchasers and each
other holder of a Note in connection with such transactions and in connection with any amendments, waivers or consents under or in respect of this Agreement, any Subsidiary Guaranty or the Notes (whether or not such amendment, waiver or consent
becomes effective), including: (a) the costs and expenses incurred in enforcing or defending (or determining whether or how to enforce or defend) 

  
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any rights under this Agreement, any Subsidiary Guaranty or the Notes or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this
Agreement, any Subsidiary Guaranty or the Notes, or by reason of being a holder of any Note, (b) the costs and expenses, including financial advisors’ fees, incurred in connection with the insolvency or bankruptcy of the Issuer, the
General Partner or any of their Subsidiaries or in connection with any work-out or restructuring of the transactions contemplated hereby and by the Notes and by any Subsidiary Guaranty and (c) the costs
and expenses incurred in connection with the initial filing of this Agreement and all related documents and financial information with the SVO, provided that such costs and expenses under this clause (c) shall not exceed $6,500,
provided that if there is a conflict of interest between any Purchaser or holder of a Note and one or more other Purchasers and holders of Notes, the Issuer and the General Partner will pay such costs and expenses of a separate counsel and a
separate financial advisor for each such conflicted Purchaser or holder of a Note. If required by the NAIC, the Issuer shall obtain and maintain at its own cost and expense a Legal Entity Identifier (LEI). 

The Issuer and the General Partner will pay, and will save each Purchaser and each other holder of a Note harmless from, (1) all claims
in respect of any fees, costs or expenses, if any, of brokers and finders (other than those, if any, retained by a Purchaser or other holder in connection with its purchase of the Notes) and (2) any and all wire transfer fees that any bank or
other financial institution deducts from any payment under such Note to such holder or otherwise charges to a holder of a Note with respect to a payment under such Note. 

Section 16.2. Certain Taxes. The Issuer and the General Partner agree to pay all stamp, documentary or
similar taxes or fees which may be payable in respect of the execution and delivery or the enforcement of this Agreement or any Subsidiary Guaranty or the execution and delivery (but not the transfer) or the enforcement of any of the Notes in the
United States or any other jurisdiction where either the Issuer, the General Partner or any Subsidiary Guarantor has assets or of any amendment of, or waiver or consent under or with respect to, this Agreement or any Subsidiary Guaranty or of any of
the Notes, and to pay any value added tax due and payable in respect of reimbursement of costs and expenses by the Issuer or the General Partner pursuant to this Section 16, and will save each holder of a Note to the extent permitted by
applicable law harmless against any loss or liability resulting from nonpayment or delay in payment of any such tax or fee required to be paid by the Issuer and/or the General Partner hereunder. 

Section 16.3. Survival. The obligations of the Issuer and the General Partner under this
Section 16 will survive the payment or transfer of any Note, the enforcement, amendment or waiver of any provision of this Agreement, any Subsidiary Guaranty or the Notes, and the termination of this Agreement. 

SECTION 17. SURVIVAL OF REPRESENTATIONS AND
WARRANTIES; ENTIRE AGREEMENT. 
 All representations and warranties
contained herein shall survive the execution and delivery of this Agreement and the Notes, the purchase or transfer by any Purchaser of any Note or portion thereof or interest therein and the payment of any Note, and may be relied upon by any
subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of such Purchaser or any other holder of a Note. All statements contained in any 

  
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certificate or other instrument delivered by or on behalf of the Issuer or the General Partner pursuant to this Agreement shall be deemed representations and warranties of such Person under this
Agreement. Subject to the preceding sentence, this Agreement, the Notes and any Subsidiary Guaranty embody the entire agreement and understanding between each Purchaser and, the Issuer and the General Partner and supersede all prior agreements and
understandings relating to the subject matter hereof. 
 SECTION 18. AMENDMENT AND
WAIVER. 
 Section 18.1. Requirements. This Agreement and the
Notes may be amended, and the observance of any term hereof or of the Notes may be waived (either retroactively or prospectively), only with the written consent of the Issuer, the General Partner and the Required Holders, except that: 

(a) no amendment or waiver of any of Sections 1, 2, 3, 4, 5, 6 or 22 hereof, or any defined term (as it is used therein), will
be effective as to any Purchaser unless consented to by such Purchaser in writing; and 
 (b) no amendment or waiver may,
without the written consent of each Purchaser and the holder of each Note at the time outstanding, (1) subject to Section 12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or
reduce the rate or change the time of payment or method of computation of (i) interest on the Notes or (ii) the Make-Whole Amount, (2) change the percentage of the principal amount of the Notes the holders of which are required to
consent to any amendment or waiver or the principal amount of the Notes that the Purchasers are to purchase pursuant to Section 2 upon the satisfaction of the conditions to Closing that appear in Section 4 or (3) amend any of
Section 8 (except as set forth in the second sentence of Section 8.2), 11(a), 11(b), 12, 13, 18 or 21. 

Section 18.2. Solicitation of Holders of Notes. 

(a) Solicitation. The Issuer and the General Partner will provide each Purchaser and each holder of a Note with
sufficient information, sufficiently far in advance of the date a decision is required, to enable such Purchaser or holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the
provisions hereof or of the Notes or of any Subsidiary Guaranty. The Issuer and the General Partner will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to this Section 18 or any Subsidiary
Guaranty to each Purchaser and each holder of a Note promptly following the date on which it is executed and delivered by, or receives the consent or approval of, the requisite Purchasers or holders of Notes. 

(b) Payment. Neither the Issuer nor the General Partner will directly or indirectly pay or cause to be paid any
remuneration, whether by way of supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any Purchaser or any holder of a Note as consideration for or as an inducement to the entering into by
such Purchaser or holder of any waiver or amendment of any of the 

  
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terms and provisions hereof or of any Subsidiary Guaranty or any Note unless such remuneration is concurrently paid, or security is concurrently granted or other credit support concurrently
provided, on the same terms, ratably to each holder of a Note even if such Purchaser or holder did not consent to such waiver or amendment. 

(c) Consent in Contemplation of Transfer. Any consent given pursuant to this Section 18 or any Subsidiary Guaranty
by a holder of a Note that has transferred or has agreed to transfer its Note to (1) the Issuer, (2) the General Partner, (3) any Subsidiary or any other Affiliate of the Issuer or the General Partner or (4) any other Person in
connection with, or in anticipation of, such other Person acquiring, making a tender offer for or merging with the Issuer, the General Partner and/or any of their Affiliates in each case in connection with such consent, shall be void and of no force
or effect except solely as to such holder, and any amendments effected or waivers granted or to be effected or granted that would not have been or would not be so effected or granted but for such consent (and the consents of all other holders of
Notes that were acquired under the same or similar conditions) shall be void and of no force or effect except solely as to such holder. 

Section 18.3. Binding Effect, Etc. Any amendment or waiver consented to as provided in this
Section 18 or any Subsidiary Guaranty applies equally to all Purchasers and holders of Notes and is binding upon them and upon each future holder of any Note and upon the Issuer and the General Partner without regard to whether such Note has
been marked to indicate such amendment or waiver. No such amendment or waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon. No course
of dealing between the Issuer, the General Partner and any Purchaser or any holder of a Note and no delay in exercising any rights hereunder or under any Note or any Subsidiary Guaranty shall operate as a waiver of any rights of any Purchaser or any
holder of such Note. 
 Section 18.4. Notes Held by the Issuer or the General Partner, Etc. Solely
for the purpose of determining whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement, any Subsidiary
Guaranty or the Notes, or have directed the taking of any action provided herein or in any Subsidiary Guaranty or the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then
outstanding, Notes directly or indirectly owned by the Issuer, the General Partner or any of their Affiliates shall be deemed not to be outstanding. 

SECTION 19. NOTICES. 

Except to the extent otherwise provided in Section 7.4, all notices and communications provided for hereunder shall be in writing and
sent (a) by telecopy if the sender on the same day sends a confirming copy of such notice by an internationally recognized overnight delivery service (charges prepaid), (b) by registered or certified mail with return receipt requested (postage
prepaid), or (c) by an internationally recognized overnight delivery service (charges prepaid). Any such notice must be sent: 

  
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 (1) if to any Purchaser or its nominee, to such Purchaser or nominee at the
address specified for such communications in the Purchaser Schedule, or at such other address as such Purchaser or nominee shall have specified to the Issuer and the General Partner in writing, 

(2) if to any other holder of any Note, to such holder at such address as such other holder shall have specified to the Issuer
and the General Partner in writing, or 
 (3) if to the Issuer or the General Partner, to such Person at its address set
forth at the beginning hereof to the attention of its Chief Financial Officer and its General Counsel, or at such other address as such Person shall have specified to the Purchaser and holders of the Notes in writing. 

Notices under this Section 19 will be deemed given only when actually received. 

SECTION 20. REPRODUCTION OF DOCUMENTS. 

This Agreement and all documents relating hereto, including (a) consents, waivers and modifications that may hereafter be executed,
(b) documents received by any Purchaser on the Execution Date or at the Closing (except the Notes themselves), and (c) financial statements, certificates and other information previously or hereafter furnished to any Purchaser, may be
reproduced by such Purchaser by any photographic, photostatic, electronic, digital, or other similar process and such Purchaser may destroy any original document so reproduced. The Issuer and the General Partner agree and stipulate that, to the
extent permitted by applicable law, any such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not such reproduction was made
by such Purchaser in the regular course of business) and any enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in evidence. This Section 20 shall not prohibit the Issuer, the General Partner or any
other Purchaser or holder of Notes from contesting any such reproduction to the same extent that it could contest the original, or from introducing evidence to demonstrate the inaccuracy of any such reproduction. 

SECTION 21. CONFIDENTIAL INFORMATION. 

For the purposes of this Section 21, “Confidential Information” means information delivered to any Purchaser by or on
behalf of the Issuer, the General Partner or any of their Subsidiaries in connection with the transactions contemplated by or otherwise pursuant to this Agreement that is proprietary in nature and that was clearly marked or labeled or otherwise
adequately identified when received by such Purchaser as being confidential information of the Issuer, the General Partner or any such Subsidiary, provided that such term does not include information that (a) was publicly known or
otherwise known to such Purchaser prior to the time of such disclosure, (b) subsequently becomes publicly known through no act or omission by such Purchaser or any Person acting on such Purchaser’s behalf, (c) otherwise becomes known
to such Purchaser other than through disclosure by the Issuer, the General Partner or any of their Subsidiaries or (d) constitutes financial statements delivered to such Purchaser under Section 7.1

  
 -51- 

 
that are otherwise publicly available. Each Purchaser will maintain the confidentiality of such Confidential Information in accordance with procedures adopted by such Purchaser in good faith to
protect confidential information of third parties delivered to such Purchaser, provided that such Purchaser may deliver or disclose Confidential Information to (1) its directors, officers, employees, agents, attorneys, trustees and
affiliates (to the extent such disclosure reasonably relates to the administration of the investment represented by its Notes and, in the case of its agents, outside attorneys, trustees and affiliates, provided such recipient is notified of
its obligation to maintain the confidentiality of such information), (2) its auditors, financial advisors and other professional advisors who agree to hold confidential the Confidential Information substantially in accordance with this
Section 21, (3) any other holder of any Note, (4) any Institutional Investor to which it sells or offers to sell such Note or any part thereof or any participation therein (if such Person has agreed in writing prior to its receipt of such
Confidential Information to be bound by this Section 21), (5) any Person from which it offers to purchase any Security of the Issuer or the General Partner (if such Person has agreed in writing prior to its receipt of such Confidential
Information to be bound by this Section 21), (6) any federal or state regulatory authority having jurisdiction over such Purchaser, (7) the NAIC or the SVO or, in each case, any similar organization, or any nationally recognized rating
agency that requires access to information about such Purchaser’s investment portfolio, or (8) any other Person to which such delivery or disclosure may be necessary or appropriate (i) to effect compliance with any law, rule,
regulation or order applicable to such Purchaser, (ii) in response to any subpoena or other legal process, (iii) in connection with any litigation to which such Purchaser is a party or (iv) if an Event of Default has occurred and is
continuing, to the extent such Purchaser may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and remedies under such Purchaser’s Notes, this Agreement or
any Subsidiary Guaranty, provided that in the case of clauses (i), (ii) or (iii) above, unless specifically prohibited by applicable law, rule, regulation or order, but in each case subject to clause (iv) above, such Purchaser shall
use its commercially reasonable efforts to notify the Issuer and the General Partner prior to such disclosure. No Purchaser shall use, or disclose to others for the purpose of using, Confidential Information for purposes of trading in the
Issuer’s or the General Partner’s Securities in violation of applicable Securities laws. Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled to the benefits of this
Section 21 as though it were a party to this Agreement. On reasonable request by the Issuer or the General Partner in connection with the delivery to any holder of a Note of information required to be delivered to such holder under this
Agreement or requested by such holder (other than a holder that is a party to this Agreement or its nominee), such holder will enter into an agreement with the Issuer and the General Partner embodying this Section 21. 

In the event that as a condition to receiving access to information relating to the Issuer, the General Partner or any of their Subsidiaries
in connection with the transactions contemplated by or otherwise pursuant to this Agreement, any Purchaser or holder of a Note is required to agree to a confidentiality undertaking (whether through IntraLinks, another secure website, a secure
virtual workspace or otherwise) which is different from this Section 21, this Section 21 shall not be amended thereby and, as between such Purchaser or such holder and the Issuer and/or the General Partner, this Section 21 shall
supersede any such other confidentiality undertaking. 

  
 -52- 

 SECTION 22. SUBSTITUTION OF
PURCHASER. 
 Each Purchaser shall have the right to substitute any one of its Affiliates or another
Purchaser or any one of such other Purchaser’s Affiliates (a “Substitute Purchaser”) as the purchaser of the Notes that it has agreed to purchase hereunder, by written notice to the Issuer and the General Partner, which notice
shall be signed by both such Purchaser and such Substitute Purchaser, shall contain such Substitute Purchaser’s agreement to be bound by this Agreement and shall contain a confirmation by such Substitute Purchaser of the accuracy with respect
to it of the representations set forth in Section 6. Upon receipt of such notice, any reference to such Purchaser in this Agreement (other than in this Section 22), shall be deemed to refer to such Substitute Purchaser in lieu of such
original Purchaser. In the event that such Substitute Purchaser is so substituted as a Purchaser hereunder and such Substitute Purchaser thereafter transfers to such original Purchaser all of the Notes then held by such Substitute Purchaser, upon
receipt by the Issuer and the General Partner of notice of such transfer, any reference to such Substitute Purchaser as a “Purchaser” in this Agreement (other than in this Section 22), shall no longer be deemed to refer to such
Substitute Purchaser, but shall refer to such original Purchaser, and such original Purchaser shall again have all the rights of an original holder of the Notes under this Agreement. 

SECTION 23. MISCELLANEOUS. 

Section 23.1. Successors and Assigns. All covenants and other agreements contained in this Agreement
by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and assigns (including any subsequent holder of a Note) whether so expressed or not, except that, subject to Section 10.2, neither the
Issuer nor the General Partner may assign or otherwise transfer any of its rights or obligations hereunder or under the Notes without the prior written consent of each holder. Nothing in this Agreement, expressed or implied, shall be construed to
confer upon any Person (other than the parties hereto and their respective successors and assigns permitted hereby) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

Section 23.2. Accounting Terms. All accounting terms used herein which are not expressly defined in
this Agreement have the meanings respectively given to them in accordance with GAAP. Except as otherwise specifically provided herein, (a) all computations made pursuant to this Agreement shall be made in accordance with GAAP and (b) all
financial statements shall be prepared in accordance with GAAP. For purposes of determining compliance with this Agreement (including Section 9, Section 10 and the definition of “Indebtedness”), any election by the Issuer and/or
the General Partner to measure any financial liability using fair value (as permitted by FASB ASC Topic No. 825-10-25 – Fair Value Option, International
Accounting Standard 39 – Financial Instruments: Recognition and Measurement or any similar accounting standard) shall be disregarded and such determination shall be made as if such election had not been made. 

Section 23.3. Severability. Any provision of this Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the
full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 

  
 -53- 

 Section 23.4. Construction, Etc. Each covenant
contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to
excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly
by such Person. 
 Defined terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may
require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The
word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be
construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein) and, for purposes
of the Notes, shall also include any such notes issued in substitution therefor pursuant to Section 14, (b) subject to Section 23.1, any reference herein to any Person shall be construed to include such Person’s successors and
assigns, (c) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all
references herein to Sections and Schedules shall be construed to refer to Sections of, and Schedules to, this Agreement, and (e) any reference to any law or regulation herein shall, unless otherwise specified, refer to such law or regulation
as amended, modified or supplemented from time to time. 
 Section 23.5. Counterparts; Electronic
Contracting. This Agreement may be executed in any number of counterparts, each of which shall be an original but all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed
by less than all, but together signed by all, of the parties hereto. The parties agree to electronic contracting and signatures with respect to this Agreement, the Subsidiary Guaranty, if any, and all other documents delivered hereunder (other
than the Notes). Delivery of an electronic signature to, or a signed copy of, this Agreement, the Subsidiary Guaranty, if any, and all other documents delivered hereunder (other than the Notes) by facsimile, email or other electronic transmission
shall be fully binding on the parties to the same extent as the delivery of the signed originals and shall be admissible into evidence for all purposes. Notwithstanding the foregoing, if any Purchaser shall request manually signed counterpart
signatures to any document hereunder, the Company hereby agrees to use its reasonable endeavors to provide such manually signed signature pages as soon as reasonably practicable. 

Section 23.6. Governing Law. This Agreement shall be construed and enforced in accordance with, and
the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the
application of the laws of a jurisdiction other than such State. 

  
 -54- 

 Section 23.7. Jurisdiction and Process; Waiver of Jury
Trial. 
 (a) The Issuer and the General Partner irrevocably submit to the
non-exclusive jurisdiction of any New York State or federal court sitting in the Borough of Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement or
the Notes. To the fullest extent permitted by applicable law, the Issuer and the General Partner irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such
court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in
an inconvenient forum. 
 (b) The Issuer and the General Partner agree, to the fullest extent permitted by applicable law,
that a final judgment in any suit, action or proceeding of the nature referred to in Section 23.7(a) brought in any such court shall be conclusive and binding upon it subject to rights of appeal, as the case may be, and may be enforced in the
courts of the United States or the State of New York (or any other courts to the jurisdiction of which it or any of its assets is or may be subject) by a suit upon such judgment. 

(c) The Issuer and the General Partner consent to process being served by or on behalf of any holder of Notes in any suit,
action or proceeding of the nature referred to in Section 23.7(a) by mailing a copy thereof by registered, certified, priority or express mail (or any substantially similar form of mail), postage prepaid, return receipt or delivery confirmation
requested, to it at its address specified in Section 19 or at such other address of which such holder shall then have been notified pursuant to said Section. The Issuer and the General Partner agree that such service upon receipt (1) shall
be deemed in every respect effective service of process upon it in any such suit, action or proceeding and (2) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery
to it. Notices hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any reputable commercial delivery service. 

(d) Nothing in this Section 23.7 shall affect the right of any holder of a Note to serve process in any manner permitted
by law, or limit any right that the holders of any of the Notes may have to bring proceedings against the Issuer and/or the General Partner in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one
jurisdiction in any other jurisdiction. 
 (e) The parties hereto hereby waive trial by jury in any action brought on or with
respect to this Agreement, the Notes or any other document executed in connection herewith or therewith. 

*    *    *    *    * 

  
 -55- 

 If you are in agreement with the foregoing, please sign the form of agreement on a
counterpart of this Agreement and return it to the Issuer and the General Partner, whereupon this Agreement shall become a binding agreement between you and the Issuer and the General Partner. 

 

									
		 		 	 Very truly yours,

			
		 		 	 FIRST INDUSTRIAL, L.P.

					
		 		 		 	By:	 	 FIRST INDUSTRIAL REALTY TRUST,
INC.

		 		 		 		 	its General Partner
					
		 		 		 	By	 	 /s/ Scott A. Musil

					
		 		 		 		 	Title: Chief Financial Officer
			
		 		 	 FIRST INDUSTRIAL REALTY
TRUST, INC.

					
		 		 		 	By	 	 /s/ Scott A. Musil

					
		 		 		 		 	Title: Chief Financial Officer

  
 [Signature Page to
Note and Guaranty Agreement] 
 1805401.v1 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

							
		 		 	 ROTHESAY LIFE PLC

				
		 		 	By:	 	/s/ David Land
			
		 		 	Name: David Land
		 		 	Title: Authorised Signatory

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is 

hereby accepted and 
 agreed to as of the date 

hereof. 
  

									
		 		 	 METROPOLITAN LIFE INSURANCE
COMPANY

					
		 		 		 	By:	 	MetLife Investment Management,
		 		 		 		 	LLC, its Investment Manager
			
		 		 	 SYMETRA LIFE INSURANCE
COMPANY

		 		 		 		 	
		 		 		 	By:	 	MetLife Investment Management,
		 		 		 		 	LLC, its Investment Manager

  

									
		 		 	 NEW YORK MARINE AND
GENERAL INSURANCE COMPANY

					
		 		 		 	By:	 	MetLife Investment Management,
		 		 		 		 	LLC, its Investment Manager
		 		 		 		 	
		 		 		 	By:	 	/s/ John Wills
				
		 		 		 	Name: John Wills
		 		 		 	Title: Authorized Signatory

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is hereby 

accepted and agreed to as of 
 the date hereof. 

 

							
		 		 	 TRANSAMERICA PREMIER LIFE
INSURANCE COMPANY

				
		 		 	By:	 	AEGON USA Investment Management, LLC, its
		 		 		 	Investment Manager
		 		 		 	
				
		 		 	By:	 	/s/ Bill Henricksen
			
		 		 	Name: Bill Henricksen
		 		 	Title: Vice President

  

							
		 		 	 TRANSAMERICA LIFE INSURANCE
COMPANY

				
		 		 	By:	 	 AEGON USA Investment Management, LLC, its

		 		 		 	Investment Manager
		 		 		 	
		 		 	By:	 	 /s/ Bill Henricksen

			
		 		 	Name: Bill Henricksen
		 		 	Title: Vice President

  

							
		 		 	 TRANSAMERICA LIFE (BERMUDA)
LTD

				
		 		 	By:	 	 AEGON USA Investment Management, LLC, its

		 		 		 	Investment Manager
		 		 		 	
		 		 	By:	 	 /s/ Bill Henricksen

			
		 		 	Name: Bill Henricksen
		 		 	Title: Vice President

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is hereby 

accepted and agreed to as of 
 the date hereof. 

 

							
		 		 	 PRINCIPAL LIFE INSURANCE
COMPANY

				
		 		 	By:	 	 Principal Global Investors, LLC, its

		 		 		 	authorized signatory
		 		 		 	
		 		 	By:	 	 /s/ Karl Goodman

			
		 		 	Name: Karl Goodman
		 		 	Title: Counsel
		 		 		 	
		 		 	By:	 	 /s/ Wei-erh
Chen

			
		 		 	Name: Wei-erh Chen
		 		 	Title: Counsel

  

							
		 		 	 PRINCIPAL LIFE INSURANCE
COMPANY –
 PRINCIPAL PRT SEPARATE
ACCOUNT

				
		 		 	By:	 	 Principal Global Investors, LLC, its

		 		 		 	authorized Signatory
		 		 		 	
		 		 	By:	 	 /s/ Karl Goodman

			
		 		 	Name: Karl Goodman
		 		 	Title: Counsel
		 		 		 	
		 		 	By:	 	 /s/ Wei-erh
Chen

			
		 		 	Name: Wei-erh Chen
		 		 	Title: Counsel

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is hereby 

accepted and agreed to as of 
 the date hereof. 

 

			
	NEW YORK LIFE INSURANCE COMPANY
		
	By:	 	/s/ Andrew Leisman
	
	Name: Andrew Leisman
	Title: Corporate Vice President
	
	NEW YORK LIFE INSURANCE AND
ANNUITY CORPORATION
	
	By: NYL Investors LLC, its Investment Manager
		
	By:	 	/s/ Andrew Leisman
	
	Name: Andrew Leisman
	Title: Senior Director
	
	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED
LIFE INSURANCE SEPARATE ACCOUNT (BOLI 30C)
	
	By: NYL Investors LLC, its Investment Manager
		
	By:	 	/s/ Andrew Leisman
	
	Name: Andrew Leisman
	Title: Senior Director

  
 [Signature Page to
Note and Guaranty Agreement] 

 
			
	 THE BANK OF NEW YORK MELLON, A BANKING CORPORATION ORGANIZED UNDER THE LAWS OF NEW YORK, NOT IN ITS INDIVIDUAL CAPACITY BUT
SOLELY AS TRUSTEE UNDER THAT CERTAIN TRUST AGREEMENT DATED AS OF JULY 1ST, 2015 BETWEEN NEW YORK LIFE INSURANCE COMPANY, AS GRANTOR, JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.), AS BENEFICIARY,

JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK, AS BENEFICIARY, AND THE BANK OF NEW YORK MELLON, AS TRUSTEE

	
	By: New York Life Insurance Company, its attorney-in-fact
		
	By:	 	/s/ Andrew Leisman
	
	Name: Andrew Leisman
	Title: Corporate Vice President

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

			
	 JACKSON NATIONAL LIFE INSURANCE COMPANY
OF
 NEW YORK

	
	By: PPM America, Inc., as attorney in fact
		
	By:	 	/s/ Elena Unger
	
	Name: Elena Unger
	Title: Vice President
	
	JACKSON NATIONAL LIFE INSURANCE COMPANY
	
	By: PPM America, Inc., as attorney in fact
		
	By:	 	/s/ Elena Unger
	
	Name: Elena Unger
	Title: Vice President

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

			
	EQUITABLE FINANCIAL LIFE INSURANCE COMPANY
		
	By:	 	/s/ Amy Judd
	
	Name: Amy Judd
	Title: Investment Officer

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

			
	THRIVENT FINANCIAL FOR LUTHERANS
		
	By:	 	/s/ Allen Stoltman
	
	Name: Allen Stoltman
	Title: Managing Director

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

			
	VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY
	COMPSOURCE MUTUAL INSURANCE COMPANY
	TRINITY UNIVERSAL INSURANCE COMPANY
	MOTORISTS LIFE INSURANCE COMPANY
	
	By: Voya Investment Management Co. LLC, as Agent
		
	By:	 	/s/ Justin Stach
	
	Name: Justin Stach
	Title: Senior Vice President

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

			
	CMFG LIFE INSURANCE COMPANY
		
	By:	 	MEMBERS Capital Advisors, Inc., acting as Investment Advisor
		
	By:	 	/s/ Anne M. Finucane
	
	Name: Anne M. Finucane
	Title: Managing Director, Investments

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

			
	GENWORTH LIFE INSURANCE COMPANY
		
	By:	 	/s/ Stuart Shepetin
	
	Name: Stuart Shepetin
	Title: Investment Officer

  
 [Signature Page to
Note and Guaranty Agreement] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

			
	AMERICAN UNITED LIFE INSURANCE COMPANY
		
	By:	 	/s/ David M. Weisenburger
	
	Name: David M. Weisenburger
	Title: VP, Fixed Income Securities

  
 [Signature Page to
Note and Guaranty Agreement] 

 DEFINED TERMS 

As used herein, the following terms have the respective meanings set forth below or set forth in the Section hereof following such term: 

“Adjusted EBITDA” means for any Person, for any period, the sum of EBITDA for such Person and such Person’s reported
corporate overhead for itself and its Subsidiaries, in each case for such period; provided that “Adjusted EBITDA” shall have deducted overhead related to specific properties. 

“Affiliate” means, at any time, and with respect to any Person, any other Person that at such time directly or
indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, and, with respect to the Issuer or the General Partner, shall include any Person beneficially owning or holding,
directly or indirectly, 10% or more of any class of voting or equity interests of the Issuer, the General Partner or any of their Subsidiaries or any Person of which the Issuer, the General Partner and their Subsidiaries beneficially own or hold, in
the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests. 
 “Agreement” means this
Note and Guaranty Agreement, including all Schedules attached to this Agreement. 
 “Anti-Corruption Laws” means any law or
regulation in a U.S. or any non-U.S. jurisdiction regarding bribery or any other corrupt activity, including the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act 2010. 

“Anti-Money Laundering Laws” means any law or regulation in a U.S. or any non-U.S.
jurisdiction regarding money laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes, including the Currency and Foreign Transactions Reporting Act of 1970 (otherwise known as the Bank Secrecy Act) and
the USA PATRIOT Act. 
 “Applicable Cap Rate” means 6.25%; provided that, if the Bank Credit Agreement (or, if at
such time the Bank Credit Agreement does not exist, the Material Credit Facility with the highest percentage “capitalization rate”) provides for a “capitalization rate” that is higher or lower than 6.25%, then the
“Applicable Cap Rate” shall be such higher or lower rate; provided, however, that in no event may the “Applicable Cap Rate” be less than 5.50%. 

“Asset Sale” means any sale or other disposition by the Consolidated Operating Partnership of any Property or other assets if
and to the extent the sum of (a) all cash proceeds thereof (excluding any proceeds resulting from the casualty or condemnation of such Property or other assets, are used to rebuild such Properties or assets within 365 days of receipt of such
proceeds), plus (b) the initial principal amount of any noncash proceeds thereof consisting of notes or other debt securities, plus (c) the fair market value of other non-cash proceeds
thereof, exceeds $500,000. 
  
 SCHEDULE A 

(to Note and Guaranty Agreement) 

1805401.v1 

 “Assets Acquired Not in Service” means, as of any date of determination,
any Project which has been acquired and owned for less than 12 months but has not yet been leased to 90% occupancy. 
 “Assets Under
Development” means, as of any date of determination, any Project which is under construction and then treated as an asset under development under GAAP. 

“Bank CLR Spike” is defined in Section 10.8(b). 

“Bank CLR Spike Loosening” is defined in Section 10.8(b). 

“Bank Credit Agreement” means the Third Amended and Restated Unsecured Revolving Credit Agreement dated as of
October 31, 2017 among the Issuer, the General Partner, the lenders from time to time parties thereto, Wells Fargo Bank National Association, as administrative agent, and Bank of America, National Association, as syndication agent, including
any renewals, extensions, amendments, supplements, restatements, replacements or refinancings thereof. 
 “Bank ULR Spike”
is defined in Section 10.8(c). 
 “Bank ULR Spike Loosening” is defined in Section 10.8(c). 

“Blocked Person” means (a) a Person whose name appears on the list of Specially Designated Nationals and Blocked Persons
published by OFAC, (b) a Person, entity, organization, country or regime that is blocked or a target of sanctions that have been imposed under U.S. Economic Sanctions Laws or (c) a Person that is an agent, department or instrumentality of,
or is otherwise beneficially owned by, controlled by or acting on behalf of, directly or indirectly, any Person, entity, organization, country or regime described in clause (a) or (b). 

“Business Day” means (a) for the purposes of Section 8.6 only, any day other than a Saturday, a Sunday or a day on
which commercial banks in New York City are required or authorized to be closed, and (b) for the purposes of any other provision of this Agreement, any day other than a Saturday, a Sunday or a day on which commercial banks in Chicago, Illinois
or New York, New York are required or authorized to be closed. 
 “Capital Stock” means any and all shares, interests,
participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person which is not a corporation and any and all warrants or options to purchase any of the foregoing. 

“Cash Equivalents” shall mean (a) short term obligations of, or fully guaranteed by, the United States,
(b) commercial paper rated “A1” or better by S&P or “P1” or better by Moody’s, or (c) certificates of deposit issued by and time deposits with commercial banks (whether domestic or foreign) having capital and
surplus in excess of $100,000,000; provided in each case that the same provides for payment of both principal and interest (and not principal alone or interest alone) and is not subject to any contingency regarding the payment of principal or
interest, provided that all such Cash Equivalents would qualify as cash equivalents in accordance with GAAP. 

  
 A-2 

 “Change in Control” is defined in Section 8.7(f). 

“Change in Control Proposed Prepayment Date” is defined in Section 8.7(b). 

“Closing” is defined in Section 3. 

“Code” means the Internal Revenue Code of 1986 and the rules and regulations promulgated thereunder from time to time.

 “Confidential Information” is defined in Section 21. 

“Consolidated Leverage Ratio” means, as of any date of determination, the ratio of Consolidated Total Indebtedness to Implied
Capitalization Value. 
 “Consolidated Leverage Ratio Increase Period” is defined in Section 10.8(b). 

“Consolidated Leverage Ratio Spike” is defined in Section 10.8(b). 

“Consolidated Operating Partnership” means, collectively, the Issuer, the General Partner and any other subsidiary
partnerships or entities of either of them which are required under GAAP to be consolidated with the Issuer and the General Partner for financial reporting purposes. 

“Consolidated Secured Debt” means, as of any date of determination, the sum of (a) the aggregate outstanding principal
amount of all Indebtedness of the Consolidated Operating Partnership outstanding at such date which is secured by a Lien on any asset or Capital Stock of the Consolidated Operating Partnership, including loans secured by mortgages, stock, or
partnership interests, but excluding Defeased Debt and (b) the amount by which the aggregate principal amount of all Indebtedness of the Subsidiaries of the Issuer or the General Partner outstanding at such date exceeds $5,000,000 (including,
for the avoidance of doubt, Guarantee Obligations of the Subsidiaries of the Issuer or the General Partner in respect of primary obligations of the Issuer or the General Partner, but excluding customary
non-recourse carveout obligations and unsecured Indebtedness of the Issuer), without duplication of any Indebtedness included under clause (a). For clarification, Consolidated Secured Debt shall include the
Ownership Share of any Investment Affiliate’s Indebtedness. 
 “Consolidated Senior Unsecured Debt” means, as of any
date of determination, the aggregate outstanding principal amount of all Indebtedness of the Consolidated Operating Partnership (which will include any Indebtedness that is secured by Equity Interests and that is recourse to the Issuer or the
General Partner, where such recourse component applies only to the payment of principal and/or interest), outstanding at such date other than (a) Indebtedness which is contractually subordinated to the Indebtedness of the Consolidated Operating
Partnership hereunder and under the Notes on terms acceptable to the Required Holders and (b) that portion of Consolidated Secured Debt described in clause (a) of that definition. For clarification, Consolidated Senior Unsecured Debt shall
exclude the Ownership Share of any Investment Affiliate’s Indebtedness. 

  
 A-3 

 “Consolidated Total Indebtedness” means, as of any date of determination,
all Indebtedness of the Consolidated Operating Partnership outstanding at such date, determined on a consolidated basis in accordance with GAAP, after eliminating intercompany items; provided that for purposes of defining “Consolidated
Total Indebtedness” the term “Indebtedness” shall not include the short term debt (e.g. accounts payable, short term expenses, but not 364-day facilities or current maturities of long
term debt) of the Issuer or the General Partner or Defeased Debt. For clarification, Consolidated Total Indebtedness shall include the Ownership Share of any Investment Affiliate’s Indebtedness. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and
policies of a Person, whether through the ownership of voting securities, by contract or otherwise; and the terms “Controlled” and “Controlling” shall have meanings correlative to the foregoing. 

“Controlled Entity” means (a) any of the Subsidiaries of the Issuer or the General Partner and any of their or the
Issuer’s or the General Partner’s respective Controlled Affiliates and (b) if the General Partner has a parent company, such parent company and its Controlled Affiliates. 

“Debt Service” means for any period, (a) Interest Expense for such period plus (b) the aggregate amount of
regularly scheduled principal payments of Indebtedness (excluding optional prepayments and balloon principal payments due on maturity in respect of any Indebtedness and mandatory excess cash flow sweeps) required to be made during such period by any
member of the Consolidated Operating Partnership plus (c) a percentage of all such regularly scheduled principal payments required to be made during such period by any Investment Affiliate on Indebtedness (excluding optional prepayments
and balloon principal payments due on maturity in respect of any Indebtedness) taken into account in calculating Interest Expense, such percentage equal to the greater of (1) the percentage of the principal amount of such Indebtedness for which
any member of the Consolidated Operating Partnership is liable and (2) the Ownership Share in such Investment Affiliate in the aggregate, without duplication. 

“Default” means an event or condition the occurrence or existence of which would, with the lapse of time or the giving of
notice or both, become an Event of Default. 
 “Default Rate” means, with respect to any Note, that rate of interest per
annum that is the greater of (a) 2.00% above the rate of interest stated in clause (a) of the first paragraph of such Note or (b) 2.00% over the rate of interest publicly announced by Bank of America, N.A. in New York, New York as its
“base” or “prime” rate. 
 “Defeased Debt” means that portion of debt which has already been defeased
by depositing collateral in the form of obligations supported by the credit of the United States government in such amounts as are required and permitted under the terms of the applicable loan documents. 

“Disclosure Documents” is defined in Section 5.3. 

  
 A-4 

 “EBITDA” means, with respect to any Person, for any period, (a) income
before restructuring charges in an aggregate amount not to exceed $10,000,000 during any four fiscal quarter period, non-cash impairment charges and other non-cash, non-recurring items determined in good faith by such Person and extraordinary items, without deduction of any losses related to initial offering costs of preferred stock which are written off due to the redemption
of such preferred stock, and excluding any gains or losses from pay-off or retirement of debt and gains/losses on sales of Properties and excluding costs incurred in acquiring Properties, where such costs are
required to be expensed under FASB ASC 805 Business Combinations 805-10-25-23, as reported by such Person and its Subsidiaries on
a consolidated basis in accordance with GAAP (reduced to eliminate any interest income and, with respect to the Consolidated Operating Partnership, any income from Investment Affiliates and any income from the assets used to support Defeased Debt),
in each case for such period, plus (b) Interest Expense, depreciation, amortization and income tax expense, if any, in each case for such period plus (c) a percentage of such income (adjusted as described above) of any such
Investment Affiliate equal to the allocable economic interest in such Investment Affiliate held by the Consolidated Operating Partnership in the aggregate for such period (provided that no item of income or expense shall be included more than
once in such calculation even if it falls within more than one of the foregoing categories). 
 “EDGAR” means the
SEC’s Electronic Data Gathering, Analysis and Retrieval System or any successor SEC electronic filing system for such purposes. 

“Environmental Laws” means any and all federal, state, local, and foreign statutes, laws, regulations, ordinances, rules,
judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment, including those
related to Hazardous Materials. 
 “Equity Interests” means, with respect to any Person, any share of capital stock of (or
other ownership or profit interests in) such Person, any warrant, option or other right for the purchase or other acquisition from such Person of any share of capital stock of (or other ownership or profit interests in) such Person, any security
convertible into or exchangeable for any share of capital stock of (or other ownership or profit interests in) such Person or warrant, right or option for the purchase or other acquisition from such Person of such shares (or such other interests),
and any other ownership or profit interest in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such share, warrant, option, right or other interest is authorized or otherwise
existing on any date of determination. 
 “Equity Value” of a Subsidiary means, as of any date of determination, the lesser
of (a) the aggregate Property Operating Income of such Subsidiary’s Properties owned as of such date capitalized at a 6.50% rate, less Indebtedness of such Subsidiary and (b) the aggregate appraised value of such
Subsidiary’s Properties, less Indebtedness of such Subsidiary. 
 “ERISA” means the Employee Retirement Income
Security Act of 1974 and the rules and regulations promulgated thereunder from time to time in effect. 

  
 A-5 

 “ERISA Affiliate” means any trade or business (whether or not incorporated)
that is treated as a single employer together with the Issuer or the General Partner under section 414 of the Code. 
 “Event of
Default” is defined in Section 11. 
 “Exchange Act” is defined in Section 8.7(f)(1). 

“Execution Date” is defined in Section 3. 

“FASB ASC” means the Accounting Standards Codification of the Financial Accounting Standards Board. 

“FATCA” means (a) sections 1471 through 1474 of the Code, as of the Execution Date (or any amended or successor version
that is substantively comparable and not materially more onerous to comply with), together with any current or future regulations or official interpretations thereof, (b) any treaty, law or regulation of any other jurisdiction, or relating to
an intergovernmental agreement between the United States and any other jurisdiction, which (in either case) facilitates the implementation of the foregoing clause (a), and (c) any agreements entered into pursuant to section 1471(b)(1) of the
Code. 
 “GAAP” means (a) except as expressly provided in the second sentence of the last paragraph of
Section 10.8, generally accepted accounting principles as in effect from time to time in the United States, (b) for purposes of Section 9.6, with respect to any Subsidiary, generally accepted accounting principles (including
International Financial Reporting Standards, as applicable) as in effect from time to time in the jurisdiction of organization of such Subsidiary, and (c) if the Unsecured Interest Coverage Ratio set forth in Section 10.8(e) has been
deemed automatically amended pursuant to the penultimate paragraph of Section 10.8, generally accepted accounting principles as defined from time to time under the Bank Credit Agreement or the relevant Material Credit Facility, as the case may
be. 
 “General Partner” is defined in the first paragraph of this Agreement. 

“Governmental Authority” means 

(a) the government of 

(1) the United States or any state or other political subdivision thereof, or 

(2) any other jurisdiction in which the Issuer, the General Partner or any of their Subsidiaries conducts all or any part of
its business, or which asserts jurisdiction over any properties of the Issuer, the General Partner or any of their Subsidiaries, or 

(b) any entity exercising executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, any
such government. 

  
 A-6 

 “Governmental Official” means any governmental official or employee,
employee of any government-owned or government-controlled entity, political party, any official of a political party, candidate for political office, official of any public international organization or anyone else acting in an official capacity.

 “Ground Lease Payments” means, for any period, payments made in cash during such period in respect of any ground lease
with respect to which any member of the Consolidated Operating Partnership is a lessee. 
 “Guarantee Obligation” means as
to any Person (the “guaranteeing person”), any obligation (determined without duplication) of (a) the guaranteeing person or (b) another Person (including any bank under any letter of credit) to induce the creation of
which the guaranteeing person has issued a reimbursement, counter indemnity or similar obligation, in either case guaranteeing or in effect guaranteeing (but, in the case of Indebtedness, only to the extent that the guarantee applies to the payment
of principal or interest due under recourse Indebtedness) any Indebtedness, leases, dividends or other obligations (the “primary obligations”) of any other third Person (the “primary obligor”) in any manner, whether
directly or indirectly, including any obligation of the guaranteeing person, whether or not contingent, (1) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (2) to advance or supply
funds (i) for the purchase or payment of any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (3) to
purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (4) otherwise to assure or hold
harmless the owner of any such primary obligation against loss in respect thereof; provided, however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of
business. The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the maximum stated amount of the primary obligation relating to such Guarantee Obligation (or, if less, the maximum stated liability set forth in the
instrument embodying such Guarantee Obligation), provided, that in the absence of any such stated amount or stated liability, the amount of such Guarantee Obligation shall be such guaranteeing person’s maximum reasonably anticipated
liability in respect thereof as determined by such Person in good faith. Notwithstanding the foregoing, a guarantee of customary non-recourse carveouts shall not be deemed a “Guarantee Obligation”
for purposes of this Agreement. 
 “Guaranty” means the guarantee of the General Partner set forth in Section 13. 

“Hazardous Materials” means any and all pollutants, toxic or hazardous wastes or other substances that might pose a hazard to
health and safety, the removal of which may be required or the generation, manufacture, refining, production, processing, treatment, storage, handling, transportation, transfer, use, disposal, release, discharge, spillage, seepage or filtration of
which is or shall be restricted, prohibited or penalized by any applicable law, including asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls, petroleum, petroleum products, lead based paint, radon gas or similar restricted,
prohibited or penalized substances. 

  
 A-7 

 “holder” means, with respect to any Note, the Person in whose name such
Note is registered in the register maintained by the Issuer pursuant to Section 14.1, provided, however, that if such Person is a nominee, then for the purposes of Sections 7, 8.7, 12, 18.2 and 19 and any related definitions in this
Schedule A, “holder” shall mean the beneficial owner of such Note whose name and address appears in such register. 

“Implied Capitalization Value” means for the Consolidated Operating Partnership as of any date, the sum (without duplication)
of (a) the quotient of (1) the Adjusted EBITDA of the Consolidated Operating Partnership during the immediately preceding period of four consecutive fiscal quarters (which Adjusted EBITDA shall exclude any Adjusted EBITDA attributable to
all assets of the type described in clause (b) below, Assets Under Development, Assets Acquired Not in Service or Rollover Projects, and which Adjusted EBITDA attributable to each Project which was formerly a Rollover Project shall not be less
than zero), and (2) the Applicable Cap Rate, plus (b) the purchase price paid by any member of the Consolidated Operating Partnership (less any amounts paid to such member as a purchase price adjustment, held in escrow, retained as
a contingency reserve or in connection with other similar arrangements) for any Property (other than Assets Under Development) acquired by such member during the immediately preceding period of four consecutive fiscal quarters, plus
(c) an amount equal to the then current book value of each Asset Under Development, plus (d) the then current book value of Unimproved Land of the Consolidated Operating Partnership, plus (e) with respect to each
Rollover Project, an amount equal to 50% of the then current book value, determined in accordance with GAAP, of such Rollover Project, plus (f) an amount equal to 100% of unrestricted cash and unrestricted Cash Equivalents of the
Consolidated Operating Partnership, including any cash on deposit with a qualified intermediary with respect to a deferred tax-free exchange (and specifically excluding any cash or Cash Equivalents being used
to support Defeased Debt), plus (g) an amount equal to 100% of the then current book value, determined in accordance with GAAP, of all first mortgage receivables on income producing commercial properties of the Consolidated Operating
Partnership. For purposes of determining Implied Capitalization Value: (i) to the extent the amount of Implied Capitalization Value attributable to Rollover Projects would exceed 10% of Implied Capitalization Value, such excess shall be
excluded; (ii) to the extent the amount of Implied Capitalization Value attributable to Unimproved Land would exceed 10% of Implied Capitalization Value, such excess shall be excluded; (iii) to the extent the amount of Implied
Capitalization Value attributable to Assets Under Development and Assets Acquired Not in Service would exceed 20% of Implied Capitalization Value, such excess shall be excluded; (iv) to the extent the amount of Implied Capitalization Value
attributable to assets of the type described in clause (g) above would exceed 5% of Implied Capitalization Value, such excess shall be excluded; and (v) to the extent the amount of Implied Capitalization Value attributable to
unconsolidated joint ventures and partnerships and other assets of the type described in clauses (c), (d), (e) and (g) would, in the aggregate, exceed 30% of Implied Capitalization Value, such excess shall be excluded (items (i) through
(v) being referred to herein as the “Investments Limitations”). The Issuer’s Ownership Share of assets held by Investment Affiliates (excluding assets of the type described in the immediately preceding clause (f)) will be
included in Implied Capitalization Value calculations consistent with the above described treatment for wholly owned assets. In the case of a newly formed Investment Affiliate, the Issuer’s Ownership Share of assets held by such Investment
Affiliate shall be calculated by multiplying (I) total assets plus accumulated depreciation of such Investment Affiliate by (II) the Ownership Share of such Investment Affiliate. This valuation

  
 A-8 

 
methodology will be used for the first four quarters following the formation of any Investment Affiliate. For purposes of computing the Implied Capitalization Value, Adjusted EBITDA may be
increased from quarter to quarter by the amount of (aa) net cash flow from new leases of space at the Properties (where such net cash flow has not then been included in EBITDA) which have a minimum term of one year and (bb) net cash flow from
Properties which were previously Assets Under Development but which have been completed during such four quarter period and have at least some tenants in possession of the respective leased spaces and conducting business operations therein each will
be included in the calculation of Implied Capitalization Value using pro forma EBITDA for such four quarter period. If a Project, Property or other asset is no longer owned as of the date of calculation, then no value shall be included in Implied
Capitalization Value for such Project, Property or other asset. 
 If at any time the Bank Credit Agreement (or, if at such time the Bank
Credit Agreement does not exist, any Material Credit Facility) contains any restrictions on the maximum amount of any type of investment or investments of the Consolidated Operating Partnership or any member thereof permitted to be included in a
covenant calculation that are more restrictive on such Person or Persons than, or are in addition to, the Investments Limitations then in effect herein, then the Investments Limitations then in effect herein shall be deemed to be automatically, and
without further action, made similarly more restrictive; provided that, if after the Investments Limitations herein have been made more restrictive, any corresponding investments limitation under the Bank Credit Agreement (or, if at such time
the Bank Credit Agreement does not exist, each Material Credit Facility) is modified to become less restrictive on the Consolidated Operating Partnership and each member thereof (an “Investments Limitations Loosening”), then, so
long as no Default or Event of Default shall have occurred and be continuing and each of the holders of the Notes has received notice thereof from the Issuer, the Investments Limitations then in effect herein shall be concurrently so modified;
provided, however, that in no event shall any Investments Limitations Loosening result in the Investments Limitations in effect herein ever being less restrictive on the Consolidated Operating Partnership or any member thereof than
those expressly set forth herein on the Execution Date. 
 If at any time any limitations in the Bank Credit Agreement (or, if at such time
the Bank Credit Agreement does not exist, any Material Credit Facility) that restrict the maximum amount of any type of investment or investments of the Consolidated Operating Partnership or any member thereof that is permitted to be included in a
covenant calculation at such time are re-characterized as one or more covenants limiting the maximum amount of such type of investment or investments, then the Investments Limitations then in effect herein
shall be deemed to be automatically, and without further action, similarly re-characterized; provided that, if after the Investments Limitations herein have been so
re-characterized, any corresponding investments limitation under the Bank Credit Agreement (or, if at such time the Bank Credit Agreement does not exist, each Material Credit Facility) is thereafter re-converted to limitations that restrict the maximum amount of any type of investment or investments of the Consolidated Operating Partnership or any member thereof that is permitted to be included in a covenant
calculation (an “Investments Covenant Re-Conversion”), then, so long as no Default or Event of Default shall have occurred and be continuing and each of the holders of the Notes has received
notice thereof from the Issuer, the Investments Limitations then in effect herein shall be concurrently similarly re-converted; provided, however, that in no event shall any Investments Covenant Re-Conversion result in the Investments Limitations in effect herein ever being less restrictive on the Consolidated Operating Partnership or any member thereof than those expressly set forth herein on the Execution
Date. 

  
 A-9 

 If the Issuer, the General Partner or any of their Subsidiaries shall pay any fee or other
compensation to any Person party to the Bank Credit Agreement or, if applicable, any Material Credit Facility (other than (A) commitment fees and similar fees given in consideration of a new extension of credit or in connection with an
extension or replacement of the Bank Credit Agreement or, if applicable, such Material Credit Facility, and (B) amounts paid in satisfaction of principal or interest under the Bank Credit Agreement or, if applicable, such Material Credit
Facility), as an inducement to receiving an Investments Limitations Loosening or an Investments Covenant Re-Conversion, such loosening or re-conversion of the
Investments Limitations shall not become effective under this Agreement until the holders of the Notes receive equivalent consideration (and for the avoidance of doubt such amounts shall be proportional to the aggregate principal amount of Notes
outstanding as compared to the sum of the aggregate outstanding principal amount of the Indebtedness and the aggregate amount of undrawn commitments under the Bank Credit Agreement or, if applicable, such Material Credit Facility). 

“Indebtedness” of any Person at any date means without duplication, (a) all indebtedness of such Person for borrowed
money, (b) all obligations of such Person for the deferred purchase price of property or services (other than current trade liabilities and other accounts payable, and accrued expenses incurred in the ordinary course of business and payable in
accordance with customary practices), repurchase obligations, takeout commitments or forward equity commitments, in each case evidenced by a binding agreement (excluding any such obligation to the extent the obligation can be satisfied by the
issuance of Equity Interests (other than Mandatorily Redeemable Stock)), to the extent such obligations constitute indebtedness for the purposes of GAAP, (c) any other indebtedness of such Person which is evidenced by a note, bond, debenture or
similar instrument, (d) all obligations of such Person under financing leases and capital leases, (e) all obligations of such Person in respect of acceptances issued or created for the account of such Person, (f) all Guarantee
Obligations of such Person (excluding in any calculation of consolidated Indebtedness of the Consolidated Operating Partnership, Guarantee Obligations of any member of the Consolidated Operating Partnership in respect of primary obligations of any
other member of the Consolidated Operating Partnership), (g) all reimbursement obligations of such Person for letters of credit and other contingent liabilities, (h) Net
Mark-to-Market Exposure under Rate Management Transactions, (i) all liabilities secured by any lien (other than liens for taxes not yet due and payable) on any
property owned by such Person even though such Person has not assumed or otherwise become liable for the payment thereof, (j) any repurchase obligation or liability of such Person or any of its Subsidiaries with respect to accounts or notes
receivable sold by such Person or any of its Subsidiaries, (k) with respect to any member of the Consolidated Operating Partnership, such Person’s Ownership Share of debt of Investment Affiliates and any loans for which such Person is
liable as a general partner and (l) all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Mandatorily Redeemable Stock issued by such Person or any other Person, valued at the
greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends. 
 “INHAM
Exemption” is defined in Section 6.3(e). 

  
 A-10 

 “Institutional Investor” means (a) any Purchaser of a Note,
(b) any holder of a Note holding (together with one or more of its affiliates) more than $2,000,000 of the aggregate principal amount of the Notes then outstanding, (c) any bank, trust company, savings and loan association or other
financial institution, any pension plan, any investment company, any insurance company, any broker or dealer, or any other similar financial institution or entity, regardless of legal form, and (d) any Related Fund of any holder of any Note.

 “Interest Expense” for any period means all interest expense of the Consolidated Operating Partnership determined in
accordance with GAAP for such period plus (a) capitalized interest not covered by an interest reserve from a loan facility, plus (b) the allocable portion (based on liability) of any interest incurred on any obligation for
which the Consolidated Operating Partnership is wholly or partially liable under guaranties covering the payment of principal and/or interest for such period, plus (c) the allocable percentage of any interest incurred on any Indebtedness
of any Investment Affiliate for such period, whether recourse or non-recourse, equal to the applicable Ownership Share in such Investment Affiliate held by the Consolidated Operating Partnership, in the
aggregate, provided that no expense shall be included more than once in such calculation even if it falls within more than one of the foregoing categories; provided, however, that “Interest Expense” shall not include
interest on loans after they become Defeased Debt. 
 “Investment Affiliate” means any Person in which the Consolidated
Operating Partnership, directly or indirectly, has an ownership interest and whose financial results are not consolidated under GAAP with the financial results of the Consolidated Operating Partnership on the consolidated financial statements of the
Consolidated Operating Partnership. 
 “Investment Grade Rating” means, for any class of
non-credit enhanced long-term senior unsecured debt issued by the Issuer, (a) a rating of “BBB-” or higher from S&P or (b) a rating of
“Baa3” or better from Moody’s. 
 “Issuer” is defined in the first paragraph of this Agreement. 

“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, any filing or agreement to file a financing statement as debtor under the Uniform Commercial Code as in effect in any jurisdiction on any property leased to any Person under a lease
which is not in the nature of a conditional sale or title retention agreement, or any subordination agreement in favor of another Person). 

“Make-Whole Amount” is defined in Section 8.6. 

“Mandatorily Redeemable Stock” means, with respect to any Person, any Equity Interest of such Person which by the terms of
such Equity Interest (or by the terms of any security into which it is convertible or for which it is exchangeable or exercisable), upon the happening of any event or otherwise (a) matures or is mandatorily redeemable, pursuant to a sinking
fund obligation or otherwise (other than an Equity Interest to the extent redeemable in exchange for common stock or other equivalent common Equity Interests), (b) is convertible into or exchangeable or exercisable for Indebtedness or Mandatorily
Redeemable Stock, or (c) is 

  
 A-11 

 
redeemable at the option of the holder thereof, in whole or in part (other than an Equity Interest which is redeemable solely in exchange for common stock or other equivalent common Equity
Interests); in each case, on or prior to the Maturity Date. 
 “Market Value Net Worth” means at any time, Implied
Capitalization Value at such time minus the Indebtedness of the Consolidated Operating Partnership at such time. 

“Material” means material in relation to the business, operations, affairs, financial condition, assets, properties, or
prospects of the Issuer, the General Partner and their Subsidiaries taken as a whole. 
 “Material Acquisition” means any
acquisition (or series of related acquisitions) permitted by this Agreement and consummated in accordance with the terms of this Agreement if the aggregate consideration paid in respect of such acquisition (including any Indebtedness assumed in
connection therewith) exceeds 10% of the Implied Capitalization Value of the Consolidated Operating Partnership. 
 “Material
Adverse Effect” means a material adverse effect on (a) the business, operations, affairs, financial condition, assets or properties of the Issuer, the General Partner and their Subsidiaries taken as a whole, (b) the ability of the
Issuer or the General Partner to perform its obligations under this Agreement and/or the Notes, (c) the ability of the Subsidiary Guarantors, taken as a whole, to perform their obligations under the Subsidiary Guaranties, or (d) the
validity or enforceability of this Agreement, the Notes or any Subsidiary Guaranty. 
 “Material Credit Facility” means, as
to the Issuer, the General Partner and their Subsidiaries, 
 (a) the Bank Credit Agreement; 

(b) the Unsecured Term Loan Agreement dated as of January 29, 2014 among the Issuer, the General Partner, the lenders from
time to time parties thereto, Wells Fargo Bank National Association, as administrative agent, and PNC Bank, National Association, as syndication agent, including any renewals, extensions, amendments, supplements, restatements, replacements or
refinancings thereof; 
 (c) the Unsecured Term Loan Agreement dated as of September 11, 2015 among the Issuer, the
General Partner, the lenders from time to time parties thereto, Wells Fargo Bank National Association, as administrative agent, and PNC Bank, National Association, Regions Bank and U.S. Bank National Association, as
co-syndication agents, including any renewals, extensions, amendments, supplements, restatements, replacements or refinancings thereof; 

(d) the Note and Guaranty Agreement dated as of February 21, 2017 among the Issuer, the General Partner and the purchasers
named therein, including any renewals, extensions, amendments, supplements, restatements, replacements or refinancings thereof; 

  
 A-12 

 (e) the Note and Guaranty Agreement dated as of December 12, 2017 among
the Issuer, the General Partner and the purchasers named therein, including any renewals, extensions, amendments, supplements, restatements, replacements or refinancings thereof; 

(f) the Note and Guaranty Agreement dated as of May 16, 2019 among the Issuer, the General Partner and the purchasers
named therein, including any renewals, extensions, amendments, supplements, restatements, replacements or refinancings thereof; and 

(g) any other agreement(s) creating or evidencing indebtedness for borrowed money (excluding any Nonrecourse Indebtedness)
entered into on or after the Execution Date by the Issuer, the General Partner or any of their Subsidiaries, or in respect of which the Issuer, the General Partner or any of their Subsidiaries is an obligor or otherwise provides a guarantee or other
credit support (other than a guarantee of customary recourse exceptions) (“Credit Facility”), in a principal amount outstanding or available for borrowing equal to or greater than $100,000,000 (or the equivalent of such amount in
the relevant currency of payment, determined as of the date of the closing of such facility based on the exchange rate of such other currency); and if no Credit Facility or Credit Facilities equal or exceed such amounts, then the largest Credit
Facility shall be deemed to be a Material Credit Facility. 
 “Maturity Date” with respect to any Note is defined in
the first paragraph of such Note. 
 “Moody’s” means Moody’s Investors Service, Inc. 

“Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined in section 4001(a)(3)
of ERISA). 
 “NAIC” means the National Association of Insurance Commissioners. 

“Net Mark-to-Market Exposure” of a Person
means, as of any date of determination, the excess, if any, of all unrealized losses over all unrealized profits of such Person arising from Rate Management Transactions. “unrealized losses” means the fair market value of the cost
to such Person of unwinding such Rate Management Transaction as of the date of determination (assuming such Rate Management Transaction were to be terminated as of that date), and “unrealized profits” means the fair market value of
the gain to such Person of unwinding such Rate Management Transaction as of the date of determination (assuming such Rate Management Transaction were to be terminated as of that date). 

“Nonrecourse Indebtedness” means Indebtedness which is “non recourse” (i.e., which is not recoverable by the
creditor thereof from the general assets of the Issuer, the General Partner or any of their Affiliates, but is limited to the proceeds of certain real estate, improvements and related personal property). 

“Non-U.S. Plan” means any plan, fund or other similar program that (a) is
established or maintained outside the United States by the Issuer, the General Partner or any of their Subsidiaries primarily for the benefit of employees of the Issuer, the General Partner or one or

  
 A-13 

 
more of their Subsidiaries residing outside the United States, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of
retirement or payments to be made upon termination of employment, and (b) is not subject to ERISA or the Code. 

“Notes” is defined in Section 1. 

“Obligations” is defined in Section 13.1. 

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury. 

“OFAC Sanctions Program” means any economic or trade sanction that OFAC is responsible for administering and enforcing. A
list of OFAC Sanctions Programs may be found at http://www.treasury.gov/resource-center/sanctions/Programs/Pages/Programs.aspx. 

“Officer’s Certificate” means, with respect to any Person, a certificate of a Senior Financial Officer or of any other
officer of such Person whose responsibilities extend to the subject matter of such certificate. 
 “Ownership Share” means,
with respect to any Investment Affiliate, the pro rata share of the nominal ownership interests held by the Consolidated Operating Partnership, in the aggregate, in such Investment Affiliate, without duplication (e.g., if the Consolidated
Operating Partnership owns 25% of an Investment Affiliate, but receives 90% of the economic benefits from such Investment Affiliate, then the Ownership Share shall be equal to 25%). 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA. 

“Permitted Liens” is defined in Section 10.7. 

“Permitted Negative Pledge” means a “negative pledge” that (a) establishes a maximum ratio of unsecured debt
to unencumbered assets, or of secured debt to total assets, or that otherwise conditions a Person’s ability to encumber its assets upon the maintenance of one or more specified ratios that limit such Person’s ability to encumber its assets
but that does not generally prohibit the encumbrance of its assets, or the encumbrance of specific assets or (b) provides for the grant in favor of the holders of any unsecured debt of any equal and ratable Lien in connection with the pledge of
any property or asset to secure the Notes. 
 “Person” means an individual, partnership, corporation, limited liability
company, association, trust, unincorporated organization, business entity or Governmental Authority. 
 “Plan” means an
“employee benefit plan” (as defined in section 3(3) of ERISA) subject to Title I of ERISA that is or, within the preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years,
have been made or required to be made, by the Issuer, the General Partner or any of their ERISA Affiliates or with respect to which the Issuer, the General Partner or any of their ERISA Affiliates may have any liability. 

  
 A-14 

 “Project” means any real estate asset which is 100% owned by the Issuer or
by any Wholly-Owned Subsidiary and which is operated as an industrial property. 
 “Property” means each parcel of real
property owned or operated by the Issuer, any Subsidiary or any Investment Affiliate. 
 “property” or
“properties” means, unless otherwise specifically limited, real or personal property of any kind, tangible or intangible, choate or inchoate. 

“Property Operating Income” means, with respect to any Property, for any period, earnings from rental operations (computed in
accordance with GAAP but without deduction for reserves) attributable to such Property plus depreciation, amortization and interest expense with respect to such Property for such period, and, if such period is less than a year, adjusted by
straight lining various ordinary operating expenses which are payable less frequently than once during every such period (e.g. real estate taxes and insurance). The earnings from rental operations reported for the immediately preceding fiscal
quarter shall be adjusted to include pro forma earnings for an entire quarter for any Property acquired or placed in service during such fiscal quarter and to exclude earnings during such quarter from any property not owned as of the end of the
quarter. 
 “PTE” is defined in Section 6.3(a). 

“Purchaser” or “Purchasers” means each of the purchasers that has executed and delivered this Agreement to
the Issuer and the General Partner and such Purchaser’s successors and assigns (so long as any such assignment complies with Section 14.2), provided, however, that any Purchaser of a Note that ceases to be the registered holder or a
beneficial owner (through a nominee) of such Note as the result of a transfer thereof pursuant to Section 14.2 shall cease to be included within the meaning of “Purchaser” of such Note for the purposes of this Agreement upon such
transfer. 
 “Purchaser Schedule” means the Purchaser Schedule to this Agreement listing the Purchasers of the Notes and
including their notice and payment information. 
 “QPAM Exemption” is defined in Section 6.3(d). 

“Qualified Institutional Buyer” means any Person who is a “qualified institutional buyer” within the meaning of
such term as set forth in Rule 144A(a)(1) under the Securities Act. 
 “Rate Management Transaction” means, with respect to
any Person, any transaction (including an agreement with respect thereto) now existing or hereafter entered into by such Person which is a rate swap, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index
swap, equity or equity index option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, forward transaction, currency swap transaction, cross-currency rate swap transaction, currency option or
any other similar transaction (including any option with respect to any of these transactions) or any combination thereof, whether linked to one or more interest rates, foreign currencies, commodity prices, equity prices or other financial measures.

  
 A-15 

 “REIT” means a Person qualifying for treatment as a “real estate
investment trust” under the Code. 
 “Related Fund” means, with respect to any holder of any Note, any fund or entity
that (a) invests in Securities or bank loans, and (b) is advised or managed by such holder, the same investment advisor as such holder or by an affiliate of such holder or such investment advisor. 

“Required Holders” means at any time (a) prior to the Closing, the Purchasers and (b) on or after the Closing, the
holders of more than 50% in principal amount of the Notes at the time outstanding (exclusive of Notes then owned by the Issuer, the General Partner or any of their Affiliates). 

“Responsible Officer” means, with respect to any Person, any Senior Financial Officer and any other officer of such Person
with responsibility for the administration of the relevant portion of this Agreement. 
 “Rollover Project” means a Project
which, due to no or low occupancy at such Project, has a value, determined by dividing the Property Operating Income for such Project for the most recent four fiscal quarters by the Applicable Cap Rate, of less than 50% of book value of such
Project, provided that a Project shall no longer be treated as a Rollover Project after: (a) a period of six consecutive full fiscal quarters has elapsed since such Project was first included as a Rollover Project, or (b) such
Project has a value, determined by dividing the Property Operating Income for such Project for the most recent four fiscal quarters by the Applicable Cap Rate, of greater than 50% of book value of such Project. 

“S&P” means S&P Global Ratings, a division of S&P Global Inc., and its successors. 

“SEC” means the Securities and Exchange Commission of the United States of America. 

“Securities” or “Security” shall have the meaning specified in section 2(a)(1) of the Securities Act. 

“Securities Act” means the Securities Act of 1933 and the rules and regulations promulgated thereunder from time to time in
effect. 
 “Senior Financial Officer” means, with respect to any Person, the chief financial officer, principal accounting
officer, treasurer or comptroller of such Person. 
 “Series F Notes” is defined in Section 1. 

“Series G Notes” is defined in Section 1. 

“Significant Subsidiary” means (a) any Subsidiary Guarantor and (b) one or more other Subsidiaries of the Issuer or
the General Partner the Equity Value of which, individually or in the aggregate, is more than 10% of Implied Capitalization Value. 

“Source” is defined in Section 6.3. 

  
 A-16 

 “State Sanctions List” means a list that is adopted by any state
Governmental Authority within the United States pertaining to Persons that engage in investment or other commercial activities in Iran or any other country that is a target of economic sanctions imposed under U.S. Economic Sanctions Laws. 

“Subsidiary” means as to any Person, a corporation, partnership or other entity of which shares of stock or other ownership
interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation,
partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person, and provided such corporation, partnership or other
entity is consolidated with such Person for financial reporting purposes under GAAP. 
 “Subsidiary Guarantor” means each
Subsidiary that has executed and delivered a Subsidiary Guaranty and has not been released from such Subsidiary Guaranty pursuant to Section 9.9(b). 

“Subsidiary Guaranty” is defined in Section 9.9(a)(1). 

“Substitute Purchaser” is defined in Section 22. 

“SVO” means the Securities Valuation Office of the NAIC. 

“Unencumbered Asset” means any Project which as of any date of determination, (a) is not subject to any Liens other than
Permitted Liens set forth in Sections 10.7(a) through 10.7(e), (b) is not subject to any agreement (including any agreement governing Indebtedness incurred in order to finance or refinance the acquisition of such asset) which prohibits or limits the
ability of the Issuer or its Wholly-Owned Subsidiaries, as the case may be, to create, incur, assume or suffer to exist any Lien upon any assets or Capital Stock of the Issuer or any of its Wholly-Owned Subsidiaries other than a Permitted Negative
Pledge, (c) is not subject to any agreement (including any agreement governing Indebtedness incurred in order to finance or refinance the acquisition of such asset) which entitles any Person to the benefit of any Lien (other than Permitted
Liens set forth in Sections 10.7(a) through 10.7(e)) on any assets or Capital Stock of the Issuer or any of its Wholly-Owned Subsidiaries or would entitle any Person to the benefit of any Lien (but excluding the Permitted Liens set forth in Sections
10.7(a) through 10.7(e)) on such assets or Capital Stock upon the occurrence of any contingency (including, except in the case of a Material Credit Facility, pursuant to an “equal and ratable” clause), (d) is not the subject of any
material architectural/engineering issue, as evidenced by a certification of the Issuer, and (e) is materially compliant with the representations and warranties in Section 5.21(b). Notwithstanding the foregoing, if any Project is a
“Superfund” site under federal law or a site identified in writing by the jurisdiction in which such Project is located as having significant environmental contamination under applicable state law, the Issuer shall so advise the holders of
Notes in writing and the Required Holders shall have the right to request from the Issuer a current detailed environmental assessment (or one which is not more than two years old for Unencumbered Assets owned as of the Execution Date), and, if
applicable, a written estimate of any remediation costs from a recognized environmental contractor and to exclude any such 

  
 A-17 

 
Project from Unencumbered Assets at their election. No Project of a Wholly-Owned Subsidiary shall be deemed to be unencumbered unless such Project and all Capital Stock of such Wholly-Owned
Subsidiary or any other intervening Wholly-Owned Subsidiary between the Issuer and such Wholly-Owned Subsidiary is unencumbered and neither such Wholly-Owned Subsidiary nor any other intervening Wholly-Owned Subsidiary between the Issuer and such
Wholly-Owned Subsidiary has any Indebtedness for borrowed money (other than Indebtedness due to the Issuer). 
 “Unencumbered
Leverage Ratio” is defined in Section 10.8(c). 
 “Unencumbered Leverage Ratio Increase Period” is defined in
Section 10.8(c). 
 “Unencumbered Leverage Ratio Spike” is defined in Section 10.8(c). 

“Unimproved Land” means land which constitutes a single tax parcel or separately platted lot and on which construction of an
industrial building has not commenced. 
 “United States” or “U.S.” means the United States of America. 

“United States Person” has the meaning set forth in section 7701(a)(30) of the Code. 

“Unsecured Interest Coverage Ratio” is defined in Section 10.8(e). 

“USA PATRIOT Act” means United States Public Law 107-56, Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001 and the rules and regulations promulgated thereunder from time to time in effect. 

“U.S. Economic Sanctions Laws” means those laws, executive orders, enabling legislation or regulations administered and
enforced by the United States pursuant to which economic sanctions have been imposed on any Person, entity, organization, country or regime, including the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran
Sanctions Act, the Sudan Accountability and Divestment Act and any other OFAC Sanctions Program. 
 “Value of Unencumbered
Assets” means, for any Person as of any date, the sum (without duplication) of (a) the value of all Unencumbered Assets that are not Assets Under Development, Assets Acquired Not in Service, Rollover Projects or assets of the type
described in clause (b) (determined in the manner set forth below), plus (b) the purchase price paid by such Person (less any amounts paid to such Person as a purchase price adjustment, held in escrow, retained as a contingency reserve
or in connection with other similar arrangements) for any Property (other than Assets Under Development) that constitutes an Unencumbered Asset and acquired by such Person during the immediately preceding period of four consecutive fiscal quarters,
plus (c) any unrestricted cash, including any cash on deposit with a qualified intermediary with respect to a deferred tax-free exchange, plus (d) an amount equal to 100% of the
then-current book value, determined in accordance with GAAP, of each first mortgage receivable secured by an income producing commercial property, provided that such first mortgage receivable is not subject to any Lien, plus (e) 100%
of the then current book value of 

  
 A-18 

 
each Asset Under Development that constitutes an Unencumbered Asset, plus (f) with respect to each Rollover Project, an amount equal to 50% of the then current book value, determined
in accordance with GAAP, of each Rollover Project; provided that to the extent the aggregate amount of Value of Unencumbered Assets from Assets Acquired Not in Service and the other items set forth in clauses (d), (e) and (f) exceed 20%
of the total Value of Unencumbered Assets, such excess shall be excluded. Unencumbered Assets that are not Assets Under Development, Assets Acquired Not in Service, Rollover Projects or assets of the type described in clause (b) above shall be
valued by dividing the Property Operating Income for such Project for the most recent four fiscal quarters by the Applicable Cap Rate (provided that for the purpose of such calculation, the Property Operating Income of each Unencumbered Asset
that was formerly a Rollover Project shall in no event be less than zero). If a Project is no longer owned as of the date of calculation, then no value shall be included based on capitalizing Property Operating Income from such Project, except for
purposes of the Unsecured Interest Coverage Ratio for such quarter. 
 “Wholly-Owned Subsidiary” means a member of the
Consolidated Operating Partnership 100% of the ownership interests in which are owned, directly or indirectly, by the Issuer and the General Partner in the aggregate. 

  
 A-19 

 FORM OF SERIES F NOTE 

FIRST INDUSTRIAL, L.P. 

2.74% Series F Guaranteed Senior Notes due September 17, 2030 

 

			
	No. FR- _____	 	                     , 20    
	$_______	 	PPN: 32055R C*6

 FOR VALUE RECEIVED, the undersigned, FIRST
INDUSTRIAL, L.P. (herein called the “Issuer”), a limited partnership organized and existing under the laws of the State of Delaware, hereby promises to pay to ____________, or registered assigns, the principal sum of
_____________________ DOLLARS (or so much thereof as shall not have been prepaid) on September 17, 2030 (the “Maturity Date”), with interest (computed on the basis of a
360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 2.74% per annum from the date hereof, payable semiannually, on the 17th day of
March and September in each year, commencing with the March 17 or September 17 next succeeding the date hereof, and on the Maturity Date, until the principal hereof shall have become due and payable, and (b) to the extent permitted by
law, (1) on any overdue payment of interest and (2) during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the greater of
(i) 4.74% or (ii) 2.00% over the rate of interest publicly announced by the principal office of Bank of America, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable semiannually as aforesaid (or,
at the option of the registered holder hereof, on demand). 
 Payments of principal of, interest on and any Make-Whole Amount with respect
to this Note are to be made in lawful money of the United States of America at Bank of America, N.A. in New York, New York or at such other place as the Issuer shall have designated by written notice to the holder of this Note as provided in the
Note and Guaranty Agreement referred to below. 
 This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Note and Guaranty Agreement dated as of July 7, 2020 (as from time to time amended, the “Note and Guaranty Agreement”) between the Issuer, First Industrial Realty Trust, Inc., a corporation organized and
existing under the laws of the State of Maryland, and the respective Purchasers named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality
provisions set forth in Section 21 of the Note and Guaranty Agreement and (ii) made the representation set forth in Section 6.3 of the Note and Guaranty Agreement. Unless otherwise indicated, capitalized terms used in this Note shall
have the respective meanings ascribed to such terms in the Note and Guaranty Agreement. 
 This Note is a registered Note and, as provided
in the Note and Guaranty Agreement, upon surrender of this Note for registration of transfer accompanied by a written instrument of 

  
 SCHEDULE 1(f) 

(to Note and Guaranty Agreement) 

1805401.v1 

 
transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the
name of, the transferee. Prior to due presentment for registration of transfer, the Issuer may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Issuer
will not be affected by any notice to the contrary. 
 This Note is subject to optional prepayment, in whole or from time to time in part,
at the times and on the terms specified in the Note and Guaranty Agreement, but not otherwise. 
 If an Event of Default occurs and is
continuing, the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note and Guaranty Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Issuer and the holder of this Note shall be governed by,
the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than
such State. 
  

					
	FIRST INDUSTRIAL, L.P.
		
	By:	 	 FIRST INDUSTRIAL REALTY
TRUST, INC. 

		 	 its General Partner

		
	By	 	 
		 	 Its
	 	 

  
 S-1(f)-2 

 FORM OF SERIES G NOTE 

FIRST INDUSTRIAL, L.P. 

2.84% Series G Guaranteed Senior Notes due September 17, 2032 

 

			
	No. GR- _____	 	                     , 20    
	$_______	 	PPN: 32055R C@4

 FOR VALUE RECEIVED, the undersigned, FIRST
INDUSTRIAL, L.P. (herein called the “Issuer”), a limited partnership organized and existing under the laws of the State of Delaware, hereby promises to pay to ____________, or registered assigns, the principal sum of
_____________________ DOLLARS (or so much thereof as shall not have been prepaid) on September 17, 2032 (the “Maturity Date”), with interest (computed on the basis of a
360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 2.84% per annum from the date hereof, payable semiannually, on the 17th day of
March and September in each year, commencing with the March 17 or September 17 next succeeding the date hereof, and on the Maturity Date, until the principal hereof shall have become due and payable, and (b) to the extent permitted by
law, (1) on any overdue payment of interest and (2) during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the greater of
(i) 4.84% or (ii) 2.00% over the rate of interest publicly announced by the principal office of Bank of America, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable semiannually as aforesaid (or,
at the option of the registered holder hereof, on demand). 
 Payments of principal of, interest on and any Make-Whole Amount with respect
to this Note are to be made in lawful money of the United States of America at Bank of America, N.A. in New York, New York or at such other place as the Issuer shall have designated by written notice to the holder of this Note as provided in the
Note and Guaranty Agreement referred to below. 
 This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Note and Guaranty Agreement dated as of July 7, 2020 (as from time to time amended, the “Note and Guaranty Agreement”) between the Issuer, First Industrial Realty Trust, Inc., a corporation organized and
existing under the laws of the State of Maryland, and the respective Purchasers named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality
provisions set forth in Section 21 of the Note and Guaranty Agreement and (ii) made the representation set forth in Section 6.3 of the Note and Guaranty Agreement. Unless otherwise indicated, capitalized terms used in this Note shall
have the respective meanings ascribed to such terms in the Note and Guaranty Agreement. 
 This Note is a registered Note and, as provided
in the Note and Guaranty Agreement, upon surrender of this Note for registration of transfer accompanied by a written instrument of 

  
 SCHEDULE 1(g) 

(to Note and Guaranty Agreement) 

1805401.v1 

 
transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the
name of, the transferee. Prior to due presentment for registration of transfer, the Issuer may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Issuer
will not be affected by any notice to the contrary. 
 This Note is subject to optional prepayment, in whole or from time to time in part,
at the times and on the terms specified in the Note and Guaranty Agreement, but not otherwise. 
 If an Event of Default occurs and is
continuing, the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note and Guaranty Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Issuer and the holder of this Note shall be governed by,
the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than
such State. 
  

					
	FIRST INDUSTRIAL, L.P.
		
	By:	 	 FIRST INDUSTRIAL REALTY
TRUST, INC. 

		 	 its General Partner

		
	By	 	 
		 	 Its
	 	 

  
 S-1(g)-2 

 INFORMATION RELATING TO PURCHASERS 

 

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL

AMOUNT OF NOTES TO BE PURCHASED

			
	 ROTHESAY LIFE PLC

The Post Building

100 Museum Street

London

WC1A 1PB

United Kingdom
	  	 Series F

Series G
	  	 $15,000,000

$85,000,000

	
	 (1)   All scheduled payments of principal and interest by wire
transfer of immediately available funds to:
  

Wire instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices of payments and written confirmations
of such wire transfers should include CUSIP/PPN in the subject line and be sent to:
  

rl-asset-operations@rothesaylife.com and Daniel.hardiman@rothesaylife.com

 
 Email address for electronic delivery: rl-structuredmonitoring@rothesaylife.com

	
	 (3)   Address for all other communications:

 

rl-structuredmonitoring@rothesaylife.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided
to Issuer under separate cover.

	
	 (5)   Nominee: None

	
	 (6)   Tax Identification Number: Redacted and provided to Issuer
under separate cover.

  
 PURCHASER SCHEDULE 

(to Note and Guaranty Agreement) 

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL

AMOUNT OF NOTES TO BE PURCHASED

			
	 METROPOLITAN LIFE INSURANCE
COMPANY
 200 Park Avenue

New York, NY 10166
	  	 Series F

Series G
	  	 $16,800,000

$23,300,000

	
	 (1)   All scheduled payments of principal and interest shall be
made by wire transfer of immediately available funds to:
  

Wire instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices and communications, including email
address:
  
 Metropolitan Life Insurance
Company
 c/o MetLife Investment Management, LLC

Investments, Private Placements

One MetLife Way

Whippany, NJ 07981

Attn: William Gardner, VP Private Placements-Corporates; Nicholas Robinson,

Analyst – Privates, Private Placements; Christine Brown, Associate Director

– Manager Privates, Private Placements

Email: PPUCompliance@metlife.com; wgardner@metlife.com; Nicholas.robinson@metlife.com;

christine.stehle@metlife.com; OpsPvtPlacements@metlife.com

 
 With a copy other than with respect to
deliveries of financial statements to:
  

Metropolitan Life Insurance Company

c/o MetLife Investment Management, LLC, Investments Law

One MetLife Way

Whippany, NJ 07981

Attn: Chief Counsel-Investments Law (PRIV)

Email: sec_invest_law@metlife.com

	
	 (3)   Address for audit requests:

 
 Soft copy to
AuditConfirms.PvtPlacements@metlife.com
  
 or
hard copy to:
  
 Metropolitan Life Insurance
Company
 Attn: Private Placement Operations (Attn: Audit Confirmations)

18210 Crane Nest Drive – 5th Floor

Tampa, FL 33647

  
 Purchaser Schedule - 4

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided
to Issuer under separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to Issuer under
separate cover.

  
 Purchaser Schedule - 5

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL

AMOUNT OF NOTES TO BE PURCHASED

			
	 SYMETRA LIFE INSURANCE
COMPANY
 777 108th Avenue NE, Suite
1200
 Bellevue, WA 98004
	  	 Series F

Series G
	  	 $2,100,000

$6,700,000

	
	 (1)   All scheduled payments of principal and interest shall be made
by wire transfer of immediately available funds to:
  

Wire instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices and communications, including email
address:
  
 Symetra Life Insurance Company

c/o MetLife Investment Management, LLC

Investments, Private Placements

One MetLife Way

Whippany, NJ 07981

Attn: William Gardner, VP Private Placements-Corporates; Nicholas Robinson,

Analyst – Privates, Private Placements; Christine Brown, Associate Director

– Manager Privates, Private Placements

Email: PPUCompliance@metlife.com; wgardner@metlife.com; Nicholas.robinson@metlife.com;

christine.stehle@metlife.com; OpsPvtPlacements@metlife.com

 
 With a copy other than with respect to
deliveries of financial statements to:
  

Symetra Life Insurance Company

c/o MetLife Investment Management, LLC

One MetLife Way

Whippany, NJ 07981

Attn: Chief Counsel-Investments Law (PRIV)

Email: sec_invest_law@metlife.com
  

copy to:
  

Symetra Life Insurance Company

Attn: Nate Zaientz

308 Farmington Ave, 3rd floor

Farmington, CT 06032
  

and to:
  

Resolution Re Ltd.
  

Wessex House

2nd Floor, 45 Reid Street

Hamilton HM12, Bermuda

Email: RLIM-Investments@resolutionlife.com

  
 Purchaser Schedule - 6

	
	 (3)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided
to Issuer under separate cover.

	
	 (4)   Nominee: CUDD and CO

	
	 (5)   U.S. Tax Identification Number: Redacted and provided to Issuer under
separate cover.

  
 Purchaser Schedule - 7

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL

AMOUNT OF NOTES TO BE PURCHASED

			
	 NEW YORK MARINE AND
GENERAL INSURANCE COMPANY
 412 Mt. Kemble Ave., Suite 300C

Morristown, NJ 07960
	  	Series F	  	$1,100,000
	
	 (1)   All scheduled payments of principal and interest shall be
made by wire transfer of immediately available funds to:
  

Wire instructions redacted and provided to Issuer under separate cover.

	
	 (2) Address for all notices and communications, including email address:

 
 New York Marine and General Insurance
Company
 c/o MetLife Investment Management, LLC

Investments, Private Placements

One MetLife Way

Whippany, NJ 07981

Attn: William Gardner, VP Private Placements-Corporates; Nicholas Robinson,

Analyst – Privates, Private Placements; Christine Brown, Associate Director

– Manager Privates, Private Placements

Email: PPUCompliance@metlife.com; wgardner@metlife.com; Nicholas.robinson@metlife.com;

christine.stehle@metlife.com; OpsPvtPlacements@metlife.com

 
 With a copy other than with respect to
deliveries of financial statements to:
  

ProSight Specialty Management Company, Inc.

412 Mt. Kemble Ave. Suite 300C

Morristown, NJ 07960

Attn: Controller

Email: jjeffreys@prosightspecialty.com
  

with a copy to:
  

ProSight Specialty Management Company, Inc.

412 Mt. Kemble Ave. Suite 300C

Morristown, NJ 07960

Attn: Chief Legal Officer

Email fpapalia@prosightspecialty.com

  
 Purchaser Schedule - 8

	
	 (3)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided
to Issuer under separate cover.

	
	 (4)   Nominee: None

	
	 (5)   U.S. Tax Identification Number: Redacted and provided to Issuer under
separate cover.

  
 Purchaser Schedule - 9

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 TRANSAMERICA PREMIER LIFE INSURANCE
COMPANY
 6300 C Street SW

Cedar Rapids, IA 52499
	  	Series G	  	$5,000,000
	
	 (1)   All payments on account of the Transamerica Premier Life
Insurance Company shall be made by wire transfer to:
  
 Wire
instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices and communications of payment:

 
 AEGON USA Investment Management, LLC

Attn: AAM GA Portfolio Accounting MS 3G-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: AAMValueHub@aegonusa.com

Ref: Series G PPN: 32055R C@4
  

and to:
  

AEGON USA Investment Management, LLC

Attn: Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: privateplacements@aegonusa.com

Ref: Series G PPN: 32055R C@4

	
	 (3)   Address for all other notices:

 
 AEGON USA Investment Management, LLC

Attn: Director of Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Telephone: (319) 355-2429

Email: privateplacements@aegonusa.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 10

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 TRANSAMERICA PREMIER LIFE INSURANCE
COMPANY
 6300 C Street SW

Cedar Rapids, IA 52499
	  	Series G	  	$3,000,000
	
	 (1)   All payments on account of the Transamerica Premier Life
Insurance Company shall be made by wire transfer to:
  
 Wire
instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices and communications of payment:

 
 AEGON USA Investment Management, LLC

Attn: AAM GA Portfolio Accounting MS 3G-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: AAMValueHub@aegonusa.com

Ref: Series G PPN: 32055R C@4
  

and to:
  

AEGON USA Investment Management, LLC

Attn: Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: privateplacements@aegonusa.com

Ref: Series G PPN: 32055R C@4

	
	 (3)   Address for all other notices:

 
 AEGON USA Investment Management, LLC

Attn: Director of Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Telephone: (319) 355-2429

Email: privateplacements@aegonusa.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 11

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 TRANSAMERICA LIFE INSURANCE
COMPANY
 6300 C Street SW

Cedar Rapids, IA 52499
	  	Series G	  	$5,000,000
	
	 (1)   All payments on account of the Transamerica Life Insurance
Company shall be made by wire transfer to:
  
 Wire instructions
redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices and communications of payment:

 
 AEGON USA Investment Management, LLC

Attn: AAM GA Portfolio Accounting MS 3G-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: AAMValueHub@aegonusa.com

Ref: Series G PPN: 32055R C@4
  

and to:
  

AEGON USA Investment Management, LLC

Attn: Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: privateplacements@aegonusa.com

Ref: Series G PPN: 32055R C@4

	
	 (3)   Address for all other notices:

 
 AEGON USA Investment Management, LLC

Attn: Director of Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Telephone: (319) 355-2429

Email: privateplacements@aegonusa.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 12

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 TRANSAMERICA LIFE INSURANCE
COMPANY
 6300 C Street SW

Cedar Rapids, IA 52499
	  	Series G	  	$7,000,000
	
	 (1)   All payments on account of the Transamerica Life Insurance
Company shall be made by wire transfer to:
  
 Wire instructions
redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices and communications of payment:

 
 AEGON USA Investment Management, LLC

Attn: AAM GA Portfolio Accounting MS 3G-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: AAMValueHub@aegonusa.com

Ref: Series G PPN: 32055R C@4
  

and to:
  

AEGON USA Investment Management, LLC

Attn: Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: privateplacements@aegonusa.com

Ref: Series G PPN: 32055R C@4

	
	 (3)   Address for all other notices:

 
 AEGON USA Investment Management, LLC

Attn: Director of Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Telephone: (319) 355-2429

Email: privateplacements@aegonusa.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 13

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL

AMOUNT OF NOTES
TO BE PURCHASED

			
	 TRANSAMERICA LIFE INSURANCE
COMPANY
 6300 C Street SW

Cedar Rapids, IA 52499
	  	Series F	  	$5,000,000
	
	 (1)   All payments on account of the Transamerica Life Insurance
Company shall be made by wire transfer to:
  
 Wire instructions
redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices and communications of payment:

 
 AEGON USA Investment Management, LLC

Attn: AAM GA Portfolio Accounting MS 3G-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: AAMValueHub@aegonusa.com

Ref: Series F PPN: 32055R C*6
  

and to:
  

AEGON USA Investment Management, LLC

Attn: Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: privateplacements@aegonusa.com

Ref: Series F PPN: 32055R C*6

	
	 (3)   Address for all other notices:

 
 AEGON USA Investment Management, LLC

Attn: Director of Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Telephone: (319) 355-2429

Email: privateplacements@aegonusa.com
  

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 14

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 TRANSAMERICA LIFE (BERMUDA)
LTD
 6300 C Street SW

Cedar Rapids, IA 52499
	  	Series G	  	$2,500,000
	
	 (1)   All payments on account of the Transamerica Life Insurance
Company shall be made by wire transfer to:
  
 Wire instructions
redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices and communications of payment:

 
 AEGON USA Investment Management, LLC

Attn: AAM GA Portfolio Accounting MS 3G-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: AAMValueHub@aegonusa.com

Ref: Series G PPN: 32055R C@4
  

and to:
  

AEGON USA Investment Management, LLC

Attn: Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: privateplacements@aegonusa.com

Ref: Series G PPN: 32055R C@4

	
	 (3)   Address for all other notices:

 
 AEGON USA Investment Management, LLC

Attn: Director of Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Telephone: (319) 355-2429

Email: privateplacements@aegonusa.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 15

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL

AMOUNT OF NOTES
TO BE PURCHASED

			
	 TRANSAMERICA LIFE (BERMUDA)
LTD
 6300 C Street SW

Cedar Rapids, IA 52499
	  	Series G	  	$2,500,000
	
	 (1)   All payments on account of the Transamerica Life Insurance
Company shall be made by wire transfer to:
  
 Wire instructions
redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices and communications of payment:

 
 AEGON USA Investment Management, LLC

Attn: AAM GA Portfolio Accounting MS 3G-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: AAMValueHub@aegonusa.com

Ref: Series G PPN: 32055R C@4
  

and to:
  

AEGON USA Investment Management, LLC

Attn: Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Email: privateplacements@aegonusa.com

Ref: Series G PPN: 32055R C@4

	
	 (3)   Address for all other notices:

 
 AEGON USA Investment Management, LLC

Attn: Director of Private Placements MS 3C-CR

6300 C Street SW
 Cedar
Rapids, IA 52499
 Telephone: (319) 355-2429

Email: privateplacements@aegonusa.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 16

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 PRINCIPAL LIFE INSURANCE
COMPANY
 711 High Street

Des Moines, IA 50392
	  	 Series F

Series G
	  	 $3,000,000

$12,000,000

	
	 (1)   All payments on account of the Notes to be made by 12:00 noon
(New York City time) by wire transfer of immediately available funds to:
  

Wire instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices:

 
 Principal Global Investors, LLC

Attn: Fixed Income Private Placements

711 High Street
 Des
Moines, IA 50392-0800
 Email: Privateplacements2@exchange.principal.com

 
 with a copy of any notices related to scheduled payments,
prepayments and rate reset notices to:
  
 Principal Global
Investors, LLC
 Attn: Investment Accounting Fixed Income Securities

711 High Street
 Des
Moines, IA 50392-0960

	
	 (3)   Address for physical delivery of the Notes:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (4)   Nominee: None

	
	 (5)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 17

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 PRINCIPAL LIFE INSURANCE
COMPANY
 711 High Street

Des Moines, IA 50392
	  	 Series F

Series G
	  	 $1,000,000

$4,000,000

	
	 (1)   All payments on account of the Notes to be made by 12:00 noon
(New York City time) by wire transfer of immediately available funds to:
  

Wire instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices:

 
 Principal Global Investors, LLC

Attn: Fixed Income Private Placements

711 High Street
 Des
Moines, IA 50392-0800
 Email: Privateplacements2@exchange.principal.com

 
 with a copy of any notices related to scheduled payments,
prepayments and rate reset notices to:
  
 Principal Global
Investors, LLC
 Attn: Investment Accounting Fixed Income Securities

711 High Street
 Des
Moines, IA 50392-0960

	
	 (3)   Address for physical delivery of the Notes:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (4)   Nominee: None

	
	 (5)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 18

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 PRINCIPAL LIFE INSURANCE COMPANY
– PRINCIPAL PRT SEPARATE ACCOUNT
 711 High
Street
 Des Moines, IA 50392
	  	 Series F

Series G
	  	 $500,000

$2,000,000

	
	 (1)   All payments on account of the Notes to be made by 12:00 noon
(New York City time) by wire transfer of immediately available funds to:
  

Wire instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices:

 
 Principal Global Investors, LLC

Attn: Fixed Income Private Placements

711 High Street
 Des
Moines, IA 50392-0800
 Email: Privateplacements2@exchange.principal.com

 
 with a copy of any notices related to scheduled payments,
prepayments and rate reset notices to:
  
 Principal Global
Investors, LLC
 Attn: Investment Accounting Fixed Income Securities

711 High Street
 Des
Moines, IA 50392-0960

	
	 (3)   Address for physical delivery of the Notes:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (4)   Nominee: None

	
	 (5)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 19

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 PRINCIPAL LIFE INSURANCE
COMPANY
 711 High Street

Des Moines, IA 50392
	  	 Series F

Series G
	  	 $500,000

$2,000,000

	
	 (1)   All payments on account of the Notes to be made by 12:00 noon
(New York City time) by wire transfer of immediately available funds to:
  

Wire instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices:

 
 Principal Global Investors, LLC

Attn: Fixed Income Private Placements

711 High Street
 Des
Moines, IA 50392-0800
 Email: Privateplacements2@exchange.principal.com

 
 with a copy of any notices related to scheduled payments,
prepayments and rate reset notices to:
  
 Principal Global
Investors, LLC
 Attn: Investment Accounting Fixed Income Securities

711 High Street
 Des
Moines, IA 50392-0960

	
	 (3)   Address for physical delivery of the Notes:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (4)   Nominee: None

	
	 (5)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 20

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	PRINCIPAL 

AMOUNT OF NOTES
TO BE 
PURCHASED

			
	 NEW YORK LIFE INSURANCE
COMPANY
 51 Madison Avenue, 2nd Floor

New York, NY 10010
	  	Series F
 Series G
	  	$3,000,000
 $14,800,000

 Information redacted and provided to Issuer under separate cover. 

  
 Purchaser Schedule - 1

 1805401.v1 

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	PRINCIPAL

AMOUNT OF NOTES
TO BE 
PURCHASED

			
	 NEW YORK LIFE INSURANCE
AND ANNUITY CORPORATION
 51 Madison Avenue, 2nd Floor
 New York, NY 10010
	  	Series F
 Series G
	  	$800,000
 $4,200,000

 Information redacted and provided to Issuer under separate cover. 

  
 Purchaser Schedule - 2

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	PRINCIPAL 

AMOUNT OF NOTES
TO BE 
PURCHASED

			
	 NEW YORK LIFE INSURANCE
AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 30C)

51 Madison Avenue, 2nd Floor

New York, NY 10010
	  	Series F
 Series G
	  	$100,000
 $600,000

 Information redacted and provided to Issuer under separate cover. 

  
 Purchaser Schedule - 3

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 THE BANK OF NEW YORK
MELLON, A BANKING CORPORATION ORGANIZED UNDER THE LAWS OF NEW YORK,
NOT IN ITS INDIVIDUAL CAPACITY BUT SOLELY AS TRUSTEE UNDER THAT
CERTAIN TRUST AGREEMENT DATED AS OF JULY 1st, 2015 BETWEEN
NEW YORK LIFE INSURANCE COMPANY, AS GRANTOR, JOHN HANCOCK LIFE INSURANCE
COMPANY (U.S.A.), AS BENEFICIARY, JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK
AS BENEFICIARY, AND THE BANK OF NEW YORK MELLON, AS TRUSTEE

51 Madison Avenue, 2nd Floor

New York, NY 10010
	  	 Series F

Series G
	  	 $100,000

$400,000

 Information redacted and provided to Issuer under separate cover. 

  
 Purchaser Schedule - 4

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 JACKSON NATIONAL LIFE INSURANCE
COMPANY OF NEW YORK
 c/o PPM America, Inc.

One Corporate Way

Lansing, MI 48951
	  	Series F	  	$3,000,000
	
	 (1)   All payments shall be made by wire transfer of immediately
available funds to:
  
 Wire Instructions redacted and provided
to Issuer under separate cover.

	
	 (2)   Address for notices of payment should be sent electronically
to:
  
 Email: PPMAPrivateReporting@ppmamerica.com

	
	 (3)   Address for delivery of certificates, waivers, amendments,
consents and financial information:
  
 PPM America, Inc.

225 West Wacker Drive, Suite 1200

Chicago, IL 60606-1228

Attn: Private Placements – Luke Stifflear

Telephone: (312) 634-2597

Fax: (312) 634-0054

Email: luke.stifflear@ppmamerica.com and PPMAPrivateReporting@ppmamerica.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 5

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 JACKSON NATIONAL LIFE INSURANCE
COMPANY
 c/o PPM America, Inc.

One Corporate Way

Lansing, MI 48951
	  	 Series F

Series G
	  	 $11,000,000

$4,000,000

	
	 (1)   All payments shall be made by wire transfer of immediately
available funds to:
  
 Wire Instructions redacted and provided
to Issuer under separate cover.

	
	 (2)   Address for notices of payment should be sent electronically
to:
  
 Email: PPMAPrivateReporting@ppmamerica.com

	
	 (3)   Address for delivery of certificates, waivers, amendments,
consents:
  
 PPM America, Inc.

225 West Wacker Drive, Suite 1200

Chicago, IL 60606-1228

Attn: Private Placements – Luke Stifflear

Telephone: (312) 634-2597

Fax: (312) 634-0054

Email: luke.stifflear@ppmamerica.com and PPMAPrivateReporting@ppmamerica.com

	
	 (4)   Address for delivery of financial information:

 
 PPM America, Inc.

225 West Wacker Drive, Suite 1200

Chicago, IL 60606-1228

Attn: Private Placements – Luke Stifflear

Telephone: (312) 634-2597

Fax: (312) 634-0054

Email: PPMAPrivateReporting@ppmamerica.com

	
	 (5)   Address for physical delivery of the Note:

Delivery instructions redacted and provided to Issuer under separate cover.

	
	 (6)   Nominee: None

	
	 (7)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 6

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 EQUITABLE FINANCIAL LIFE INSURANCE
COMPANY
 1345 Avenue of the Americas

New York, NY 10105
	  	Series F	  	$16,000,000
	
	 (1)   All payments shall be made by wire transfer of immediately
available funds to:
  
 Wire Instructions redacted and provided
to Issuer under separate cover.

	
	 (2)   Address for notices of payments and written confirmations of
wire transfers:
  
 Equitable Financial Life Insurance Company

c/o AllianceBernstein LP

1345 Avenue of the Americas, 37th Floor

New York, NY 10105
 Attn:
Angel Salazar / Shiean Mercado
 Telephone: 212-969-2491
/ 212-823-3228
 Email:
angel.salazar@alliancebernstein.com and
 shiean.mercado@alliancebernstein.com

	
	 (3)   Address for all other communications:

 
 Equitable Financial Life Insurance Company

c/o AllianceBernstein LP

1345 Avenue of the Americas, 38th Floor

New York, NY 10105
 Attn:
Kimberly Chan
 Telephone: 212-969-6354

Email: Kimberly.Chan@alliancebernstein.com and ABPPCompliance@alliancebernstein.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under separate
cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 7

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 THRIVENT FINANCIAL FOR
LUTHERANS
 625 Fourth Avenue South

Minneapolis, MN 55415
	  	 Series F

Series G
	  	 $5,000,000

$6,000,000

	
	 (1)   All payments shall be made by wire transfer of immediately
available funds to:
  
 Wire Instructions redacted and provided
to Issuer under separate cover.

	
	 (2)   Address for all notices of payments and written confirmations
of such wire transfers:
  
 Investment Division-Private
Placements
 Attn: Allen Stoltman

Thrivent Financial for Lutherans

901 Marquette Avenue, Suite 2500

Minneapolis, MN 55402

Fax: (612) 844-4027

Email: privateinvestments@thrivent.com
  

With a copy to:
  

Thrivent Financial for Lutherans

Attn: Jeremy Anderson or Harmon Bergenheier

901 Marquette Avenue, Suite 2500

Minneapolis, MN 55402

Email: boxprivateplacement@thrivent.com

	
	 (3)   Address for all other communications:

 
 Thrivent Financial for Lutherans

Attn: Investment Division-Private Placements

625 Fourth Avenue South

Minneapolis, MN 55415

Email: privateinvestments@thrivent.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 8

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 VOYA RETIREMENT INSURANCE AND
ANNUITY COMPANY
 5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327
	  	 Series F

Series G
	  	 $1,000,000

$2,000,000

	
	 (1)   All payments on account of the Note held by such purchaser
shall be made by wire transfer of immediately available funds for credit to:
  

Wire Instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices relating to payments:

 
 BNYM Mellon Asset Servicing

11486 Corporate Blvd., Suite 200

Orlando, FL 32817-8371

Attn: Operations/Settlements

Email: VoyaIMPCOperations@voya.com

	
	 (3)   Address for all other communications and notices:

 
 Voya Investment Management Co. LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347

Attn: Private Placements

Fax: (770) 690-5342

Email: Private.Placements@voya.com and Justin.Stach@voya.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 9

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 COMPSOURCE MUTUAL INSURANCE
COMPANY
 5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327
	  	Series G	  	$2,000,000
	
	 (1)   All payments on account of the Note held by such purchaser
shall be made by wire transfer of immediately available funds for credit to:
  

Wire Instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices relating to payments:

 
 BNYM Mellon Asset Servicing

11486 Corporate Blvd., Suite 200

Orlando, FL 32817-8371

Attn: Operations/Settlements

Email: VoyaIMPCOperations@voya.com

	
	 (3)   Address for all other communications and notices:

 
 Voya Investment Management Co. LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347

Attn: Private Placements

Fax: (770) 690-5342

Email: Private.Placements@voya.com and Justin.Stach@voya.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under separate
cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 10

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 TRINITY UNIVERSAL INSURANCE
COMPANY
 5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327
	  	Series F	  	$3,000,000
	
	 (1)   All payments on account of the Note held by such purchaser
shall be made by wire transfer of immediately available funds for credit to:
  

Wire Instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices relating to payments:

 
 Kemper Corporate Services

Trinity Universal Insurance Company

200 East Randolph Street, Suite 3300

Chicago, IL 60601
 Attn:
Investment Accounting
 Email: investmentaccounting@kemper.com and investops@kemper.com and VoyaIMPCOperations@voya.com

	
	 (3)   Address for all other communications and notices:

 
 Voya Investment Management Co. LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347

Attn: Private Placements

Fax: (770) 690-5342

Email: Private.Placements@voya.com and Justin.Stach@voya.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: Hare & Co., LLC

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 11

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL

AMOUNT OF NOTES
TO BE PURCHASED

			
	 MOTORISTS LIFE INSURANCE
COMPANY
 5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327
	  	Series G	  	$1,000,000
	
	 (1)   All payments on account of the Note held by such purchaser
shall be made by wire transfer of immediately available funds for credit to:
  

Wire Instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices relating to payments:

 
 BNYM Mellon Asset Servicing

11486 Corporate Blvd., Suite 200

Orlando, FL 32817-8371

Attn: Operations/Settlements

Email: VoyaIMPCOperations@voya.com

	
	 (3)   Address for all other communications and notices:

 
 Voya Investment Management Co. LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347

Attn: Private Placements

Fax: (770) 690-5342

Email: Private.Placements@voya.com and Justin.Stach@voya.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: None

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 12

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 CMFG LIFE INSURANCE COMPANY

DS-PrivatePlacements@cunamutual.com
	  	Series F	  	$1,000,000
	
	 (1)   All payments shall be made by wire transfer of immediately
available funds to:
  
 Wire Instructions redacted and provided
to Issuer under separate cover.

	
	 (2)   Email address for all notices of payment, wires, audit
confirmations, compliance and financials:
  
 DS-PrivatePlacements@cunamutual.com

	
	 (3)   Email address for all legal communications:

 

DS-PrivatePlacements@cunamutual.com and mcalegal@cunamutual.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: TURNKEYS & CO

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 13

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 CMFG LIFE INSURANCE COMPANY

DS-PrivatePlacements@cunamutual.com
	  	Series F	  	$1,000,000
	
	 (1)   All payments shall be made by wire transfer of immediately
available funds to:
  
 Wire Instructions redacted and provided
to Issuer under separate cover.

	
	 (2)   Email address for all notices of payment, wires, audit
confirmations, compliance and financials:
  
 DS-PrivatePlacements@cunamutual.com

	
	 (3)   Email address for all legal communications:

 

DS-PrivatePlacements@cunamutual.com and mcalegal@cunamutual.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: TURNKEYS & CO

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 14

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 CMFG LIFE INSURANCE COMPANY

DS-PrivatePlacements@cunamutual.com
	  	Series G	  	$3,000,000
	
	 (1)   All payments shall be made by wire transfer of immediately
available funds to:
  
 Wire Instructions redacted and provided
to Issuer under separate cover.

	
	 (2)   Email address for all notices of payment, wires, audit
confirmations, compliance and financials:
  
 DS-PrivatePlacements@cunamutual.com

	
	 (3)   Email address for all legal communications:

 

DS-PrivatePlacements@cunamutual.com and mcalegal@cunamutual.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: TURNKEYS & CO

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 15

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL 

AMOUNT OF NOTES
TO BE PURCHASED

			
	 CMFG LIFE INSURANCE COMPANY

DS-PrivatePlacements@cunamutual.com
	  	Series G	  	$2,000,000
	
	 (1)   All payments shall be made by wire transfer of immediately
available funds to:
  
 Wire Instructions redacted and provided
to Issuer under separate cover.

	
	 (2)   Email address for all notices of payment, wires, audit
confirmations, compliance and financials:
  
 DS-PrivatePlacements@cunamutual.com

	
	 (3)   Email address for all legal communications:

 

DS-PrivatePlacements@cunamutual.com and mcalegal@cunamutual.com

	
	 (4)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (5)   Nominee: TURNKEYS & CO

	
	 (6)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 16

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL

AMOUNT OF NOTES
TO BE PURCHASED

			
	 GENWORTH LIFE INSURANCE
COMPANY
 3001 Summer Street, 4th Floor

Stamford, CT 06905
	  	Series F	  	$5,000,000
	
	 (1)   All payments on or in respect of the Note shall be made by
wire transfer of immediately available funds to:
  
 Wire
Instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for notices with respect to corporate actions,
including payments and prepayments and written confirmation of each such payment or prepayment, including interest payment and prepayment, redemptions, premiums, make wholes, and fees:

 
 Genworth Financial, Inc.

Account: Genworth Life Insurance Company

3001 Summer Street, 4th Floor

Stamford, CT 06905
 Attn:
Private Placements
 Attn: Trade Operations

Telephone: (203) 708-3300

Fax: (203) 708-3308
  

With a copy by email to: GNW.privateplacements@genworth.com and

                       
                  GNWInvestmentsOperations@genworth.com

	
	 (3)   Additional copy (solely for notices with respect to payments
and written confirmation of each payment) to:
  
 The Bank of New
York
 Income Collection Department

P.O. Box 392002

Pittsburgh, PA 15251

Attn: Income Collection Department

Ref: GLIC / LILTCNEW / 364781 / Series F PPN: 32055R C*6, 2.74% Series F Guaranteed Senior Notes due September 17, 2030

P&I Contact: Jason Miller – (412) 234-1680

 
 And by email to: treasppbkoffice@genworth.com and
ppservicing@BNYmellon.com

  
 Purchaser Schedule - 17

	
	 (4)   Address for all other notices and communications:

 
 Genworth Financial, Inc.

Account: Genworth Life Insurance Company

3001 Summer Street, 4th Floor

Stamford, CT 06905
 Attn:
Private Placements
 Telephone: (203) 708-3300

Fax: (203) 708-3308
  

With a copy by email to: GNW.privateplacements@genworth.com

	
	 (5)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (6)   Nominee: HARE & CO., LLC

	
	 (7)   U.S. Tax Identification Number: Redacted and provided to Issuer under
separate cover.

  
 Purchaser Schedule - 18

					
	 NAME AND ADDRESS OF
PURCHASER
	  	TRANCHE	  	 PRINCIPAL

AMOUNT OF NOTES
TO BE PURCHASED

			
	 AMERICAN UNITED LIFE INSURANCE
COMPANY
 One American Square, Suite 1017

Post Office Box 368

Indianapolis, IN 46206
	  	Series F	  	$5,000,000
	
	 (1)   All payments shall be made in immediately available funds by
wire transfer to the following bank account:
  
 Wire
Instructions redacted and provided to Issuer under separate cover.

	
	 (2)   Address for all notices:

 
 American United Life Insurance Company

Attn: Mike Bullock, Securities Department

One American Square, Suite 1017

Post Office Box 368

Indianapolis, IN 46206

Email: mike.bullock@oneamerica.com

	
	 (3)   Address for physical delivery of the Note:

 
 Delivery instructions redacted and provided to Issuer under
separate cover.

	
	 (4)   Nominee: None

	
	 (5)   U.S. Tax Identification Number: Redacted and provided to
Issuer under separate cover.

  
 Purchaser Schedule - 19

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